Tilray (NASDAQ:TLRY) Stock Price Up 2.2% – Time to Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price was up 2.2% during trading on Friday . The company traded as high as $1.18 and last traded at $1.15. Approximately 12,110,177 shares were traded during trading, a decline of 71% from the average daily volume of 42,268,156 shares. The stock had previously closed at $1.12.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Roth Mkm reduced their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group lifted their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

The firm’s fifty day moving average price is $1.30 and its two-hundred day moving average price is $1.58. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The company had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of Tilray

Several large investors have recently added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray during the 3rd quarter worth $26,000. Ameritas Advisory Services LLC bought a new stake in Tilray during the fourth quarter valued at about $32,000. International Assets Investment Management LLC increased its position in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. bought a new position in shares of Tilray in the third quarter worth about $42,000. Finally, Capital Management Associates Inc purchased a new position in shares of Tilray during the 3rd quarter valued at about $45,000. 9.35% of the stock is currently owned by institutional investors.

About Tilray

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.