Tilray (NASDAQ:TLRY) Sees Strong Trading Volume – Time to Buy?

by · The Markets Daily

Tilray Inc (NASDAQ:TLRY – Get Free Report) shares saw an uptick in trading volume on Monday . 20,281,904 shares were traded during mid-day trading, a decline of 19% from the previous session’s volume of 24,941,295 shares.The stock last traded at $1.80 and had previously closed at $1.64.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on Tilray

Tilray Price Performance

The stock has a market capitalization of $1.48 billion, a PE ratio of -6.56 and a beta of 2.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company’s fifty day simple moving average is $1.69 and its two-hundred day simple moving average is $1.79.

Tilray (NASDAQ:TLRY – Get Free Report) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. As a group, sell-side analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Institutional Trading of Tilray

Institutional investors and hedge funds have recently made changes to their positions in the stock. HBK Sorce Advisory LLC acquired a new stake in shares of Tilray during the 1st quarter worth about $37,000. Prospect Financial Services LLC acquired a new stake in Tilray during the second quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray in the 2nd quarter worth approximately $29,000. Essex LLC purchased a new stake in Tilray in the 1st quarter worth approximately $49,000. Finally, Jeppson Wealth Management LLC purchased a new position in shares of Tilray during the 2nd quarter worth $33,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

About Tilray

(Get Free Report)

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.

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