Tilray (NASDAQ:TLRY) Stock Price Up 5.3% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) was up 5.3% on Wednesday . The company traded as high as $0.46 and last traded at $0.44. Approximately 18,823,849 shares were traded during trading, a decline of 46% from the average daily volume of 34,630,891 shares. The stock had previously closed at $0.42.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TLRY. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Piper Sandler cut their price target on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th.

Tilray Stock Up 1.5%

The stock has a market capitalization of $428.57 million, a price-to-earnings ratio of -1.42 and a beta of 1.83. The firm's fifty day moving average is $0.46 and its 200-day moving average is $0.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

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

Institutional Trading of Tilray

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Lido Advisors LLC acquired a new stake in shares of Tilray during the fourth quarter worth $28,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray during the fourth quarter worth $29,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray during the fourth quarter worth $29,000. Cerity Partners LLC acquired a new stake in shares of Tilray during the first quarter worth $31,000. Finally, Capital Management Associates Inc raised its holdings in shares of Tilray by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after purchasing an additional 25,380 shares during the period. 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.