Tilray (NASDAQ:TLRY) Stock Price Up 1.2% – Should You Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price shot up 1.2% on Thursday . The stock traded as high as $0.82 and last traded at $0.81. 7,584,108 shares were traded during mid-day trading, a decline of 84% from the average session volume of 46,135,766 shares. The stock had previously closed at $0.80.

Analyst Ratings Changes

Separately, Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Performance

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $1.13 and a 200 day moving average price of $1.43. The firm has a market cap of $689.18 million, a PE ratio of -2.45 and a beta of 2.07.

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

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in TLRY. Tidal Investments LLC lifted its stake in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Bank of Montreal Can lifted its stake in Tilray by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock valued at $3,310,000 after buying an additional 312,476 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tilray by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock valued at $3,200,000 after buying an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Tilray by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after buying an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tilray by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock valued at $2,613,000 after buying an additional 286,481 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Company Profile

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.