Tilray (NASDAQ:TLRY) Shares Up 4.7% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price shot up 4.7% during trading on Wednesday . The stock traded as high as $0.46 and last traded at $0.46. 8,048,179 shares were traded during trading, a decline of 71% from the average session volume of 28,168,573 shares. The stock had previously closed at $0.44.

Wall Street Analyst Weigh In

Several brokerages recently commented on TLRY. Piper Sandler decreased their price target on Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a research note on Monday, April 14th.

Tilray Trading Down 5.7%

The company has a 50 day moving average of $0.49 and a 200 day moving average of $0.89. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a market cap of $441.05 million, a price-to-earnings ratio of -1.46 and a beta of 1.95.

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

Hedge Funds Weigh In On Tilray

Several institutional investors have recently bought and sold shares of the business. Newman Dignan & Sheerar Inc. raised its position in Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock valued at $35,000 after purchasing an additional 10,000 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Tilray by 55.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock valued at $42,000 after purchasing an additional 11,325 shares during the last quarter. NewEdge Advisors LLC raised its position in Tilray by 92.1% in the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after purchasing an additional 13,136 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in Tilray by 59.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock valued at $49,000 after purchasing an additional 13,786 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in Tilray by 68.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock valued at $47,000 after purchasing an additional 14,221 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

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.