Tilray (NASDAQ:TLRY) Shares Up 2.8% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price traded up 2.8% during mid-day trading on Friday . The stock traded as high as $0.40 and last traded at $0.40. 7,430,169 shares changed hands during trading, a decline of 74% from the average session volume of 28,712,513 shares. The stock had previously closed at $0.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TLRY shares. Roth Capital reissued a "neutral" rating on shares of Tilray in a research note on Monday, April 14th. Piper Sandler lowered their price target on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th.

Tilray Trading Up 3.8%

The firm has a market cap of $405.62 million, a price-to-earnings ratio of -1.35 and a beta of 1.95. 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 business has a 50 day moving average of $0.47 and a 200 day moving average of $0.86.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. On average, research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after purchasing an additional 769,569 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Tilray by 112.7% during the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock valued at $1,222,000 after acquiring an additional 487,051 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tilray in the 4th quarter valued at approximately $255,000. Atria Wealth Solutions Inc. boosted its holdings in shares of Tilray by 174.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock valued at $112,000 after buying an additional 53,751 shares during the period. Finally, Tidal Investments LLC grew its stake in Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after buying an additional 889,086 shares during the last quarter. 9.35% of the stock is 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.

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