Tilray (NASDAQ:TLRY) Shares Up 1.8% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price traded up 1.8% during mid-day trading on Friday . The company traded as high as $0.51 and last traded at $0.50. 11,968,741 shares changed hands during trading, a decline of 69% from the average session volume of 38,695,980 shares. The stock had previously closed at $0.49.

Wall Street Analysts Forecast Growth

TLRY has been the topic of several research reports. Canaccord Genuity Group boosted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. 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 report on Wednesday, April 9th. Finally, Roth Capital restated a "neutral" rating on shares of Tilray in a report on Monday, April 14th.

Tilray Price Performance

The stock has a 50-day moving average of $0.62 and a two-hundred day moving average of $1.07. The firm has a market cap of $492.98 million, a price-to-earnings ratio of -1.63 and a beta of 1.88. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY - Get Free Report) last announced 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). The firm had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. On average, analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC grew its holdings in shares of Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after acquiring an additional 889,086 shares in the last quarter. Bank of Montreal Can increased its holdings in Tilray by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock worth $3,310,000 after buying an additional 312,476 shares during the last quarter. Geode Capital Management LLC raised its position in Tilray by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock valued at $3,200,000 after acquiring an additional 403,371 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after purchasing an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tilray by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after purchasing an additional 286,481 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray

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.