Tilray (NASDAQ:TLRY) Sees Strong Trading Volume – Still a Buy?

Tilray Inc (NASDAQ:TLRY) shares saw strong trading volume on Monday . 20,281,904 shares were traded during 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.

Wall Street Analyst Weigh In

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

Tilray Trading Up 6.4 %

The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -6.74 and a beta of 2.14. The company’s 50-day moving average price is $1.69 and its 200-day moving average price is $1.79.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $218.70 million. During the same period last year, the firm posted ($0.10) earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts expect that Tilray Inc will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray

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

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.