Tilray (NASDAQ:TLRY) Stock Price Up 2.8% - Still a Buy?

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

Analyst Upgrades and Downgrades

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

Tilray Trading Up 1.1%

The stock has a fifty day simple moving average of $0.46 and a 200 day simple moving average of $0.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The firm has a market cap of $412.66 million, a P/E ratio of -1.37 and a beta of 1.83.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Lido Advisors LLC purchased a new stake in Tilray in the fourth quarter worth approximately $28,000. Verdence Capital Advisors LLC bought a new position in shares of Tilray during the 4th quarter valued at $29,000. Dudley Capital Management LLC purchased a new position in shares of Tilray in the 4th quarter worth $29,000. Cerity Partners LLC bought a new stake in shares of Tilray in the first quarter worth $31,000. Finally, Capital Management Associates Inc increased its position in Tilray by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after acquiring an additional 25,380 shares during the last quarter. 9.35% of the stock is 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.