Tilray (NASDAQ:TLRY) Stock Price Up 0.8% – Time to Buy?

Tilray Inc (NASDAQ:TLRY) shares were up 0.8% on Friday . The stock traded as high as $1.48 and last traded at $1.47. Approximately 15,046,320 shares were traded during trading, a decline of 57% from the average daily volume of 34,716,125 shares. The stock had previously closed at $1.46.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th.

Tilray Trading Up 1.1 %

The company has a market capitalization of $1.33 billion, a P/E ratio of -5.47 and a beta of 2.09. The stock has a 50 day moving average of $1.40 and a 200-day moving average of $1.63. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter last year, the firm earned ($0.10) EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its stake in Tilray by 13.3% during the second quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock worth $1,445,000 after buying an additional 102,316 shares during the last quarter. TD Asset Management Inc grew its position in shares of Tilray by 8.1% during the second quarter. TD Asset Management Inc now owns 1,373,045 shares of the company’s stock worth $2,278,000 after buying an additional 103,207 shares in the last quarter. CapWealth Advisors LLC increased its position in shares of Tilray by 21.1% in the 2nd quarter. CapWealth Advisors LLC now owns 108,960 shares of the company’s stock valued at $181,000 after purchasing an additional 18,960 shares during the last quarter. Arizona State Retirement System raised its stake in Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after buying an additional 9,171 shares in the last quarter. Finally, Jeppson Wealth Management LLC purchased a new stake in Tilray during the second quarter worth approximately $33,000. 9.35% of the stock is currently owned by hedge funds and other 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.