Tilray (NASDAQ:TLRY) Stock Price Up 3.2% – Still a Buy?

Tilray Inc (NASDAQ:TLRY)’s share price traded up 3.2% on Monday . The stock traded as high as $0.68 and last traded at $0.67. 9,971,595 shares were traded during mid-day trading, a decline of 77% from the average session volume of 44,183,152 shares. The stock had previously closed at $0.65.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

The stock has a market capitalization of $639.11 million, a P/E ratio of -2.27 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The firm has a fifty day moving average price of $0.89 and a two-hundred day moving average price of $1.28.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results 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). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TLRY. Tidal Investments LLC increased its stake in shares of Tilray by 9.2% in the 4th 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 in the last quarter. Bank of Montreal Can grew its holdings in Tilray by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock valued at $3,310,000 after purchasing an additional 312,476 shares during the period. Geode Capital Management LLC increased its position in Tilray by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock worth $3,200,000 after buying an additional 403,371 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Tilray by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after buying an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tilray by 17.1% during the 4th 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 in the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.