Tilray (NASDAQ:TLRY) Trading 0.1% Higher - Should You Buy?

Tilray Inc (NASDAQ:TLRY) saw its stock price rise by 0.1% during mid-day trading on Thursday. The shares reached a high of $0.66 before settling at $0.64. During this trading session, 7,316,436 shares exchanged hands, significantly lower than the average volume of 31,308,224 shares. The stock closed at $0.64 in the previous session.

Analysts Set New Price Targets

Recent analysis from Canaccord Genuity Group increased Tilray's price target from $2.00 to $3.00, maintaining a "buy" rating. Currently, three analysts suggest holding the stock, while two have rated it as a buy. According to MarketBeat, the consensus rating for Tilray is a "Hold" with an average target price set at $2.70.

Tilray Trading Metrics

In terms of market performance, Tilray's stock has a 50-day moving average of $0.93 and a 200-day moving average of $1.31. The company maintains a market capitalization of $605.73 million, a price-to-earnings ratio of -2.16, and a beta coefficient of 2.13. Additionally, Tilray's debt-to-equity ratio stands at 0.10, while its quick ratio and current ratio are 1.58 and 2.54, respectively.

Latest Earnings Report

Tilray recently released its earnings results on January 10, showing earnings per share (EPS) of ($0.10), missing the consensus estimate of ($0.03) by $0.07. The company also reported a negative return on equity of 4.40% and a net margin of -30.95%. For the quarter, revenue totaled $210.90 million, falling short of the expected $216.34 million, though it represented an 8.7% increase compared to the same quarter last year. Analysts forecast Tilray to post an EPS of -0.20 for the current year.

Institutional Activity

Recent trading activity among hedge funds has shown a mix of new stakes and adjustments to positions in Tilray. Notably, Lido Advisors LLC acquired a new stake valued at approximately $28,000, while Verdence Capital Advisors LLC and Dudley Capital Management LLC each invested around $29,000. Ameritas Advisory Services LLC also purchased a new position worth about $32,000. Additionally, Newman Dignan & Sheerar Inc. increased its stake by 61.9%, now holding 26,150 shares valued at approximately $35,000. Institutional investors collectively own about 9.35% of Tilray’s stock.

About Tilray

Tilray, Inc. focuses on the research, cultivation, processing, and distribution of medical cannabis. Its products are available in several countries, including Argentina, Australia, Canada, and Germany. The company is headquartered in Canada.

Investment Considerations

Before making an investment decision regarding Tilray, it is wise to consider expert opinions. Currently, while analysts give Tilray a "Hold" rating, there are five other stocks that top analysts are recommending as better investment opportunities right now. Interested investors are encouraged to explore these alternatives.

Tilray, Stock, Investment