Tilray (NASDAQ:TLRY) Trading Up 2.1% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares rose 2.1% on Wednesday . The stock traded as high as $0.41 and last traded at $0.41. Approximately 12,415,847 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 28,574,656 shares. The stock had previously closed at $0.40.

Analyst Ratings Changes

TLRY has been the subject of several research analyst reports. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a research note on Monday, April 14th. Piper Sandler decreased their price target on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th.

Tilray Trading Down 5.1%

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The firm's 50-day moving average price is $0.47 and its 200 day moving average price is $0.86. The company has a market capitalization of $390.72 million, a P/E ratio of -1.29 and a beta of 1.95.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $185.78 million for the quarter, compared to the consensus estimate of $213.38 million. As a group, equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in Tilray by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after purchasing an additional 575,757 shares during the last quarter. State of Wyoming boosted its holdings in Tilray by 133.0% during the first quarter. State of Wyoming now owns 241,165 shares of the company's stock worth $159,000 after purchasing an additional 137,676 shares during the last quarter. Zuckerman Investment Group LLC purchased a new position in Tilray during the first quarter worth about $33,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Tilray by 30.4% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 527,995 shares of the company's stock worth $345,000 after purchasing an additional 122,969 shares during the last quarter. Finally, Fifth Lane Capital LP boosted its holdings in Tilray by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after purchasing an additional 40,000 shares during the last quarter. 9.35% of the stock is currently owned by hedge funds and other 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.