Tilray (NASDAQ:TLRY) Shares Up 0.2% - Time to Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price shot up 0.2% on Tuesday . The company traded as high as $0.48 and last traded at $0.48. 3,953,757 shares changed hands during trading, a decline of 87% from the average session volume of 29,376,033 shares. The stock had previously closed at $0.48.

Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler reduced their price objective on Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Canaccord Genuity Group boosted their price target on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Roth Capital reiterated a "neutral" rating on shares of Tilray in a research note on Monday, April 14th.

Tilray Stock Performance

The firm has a market capitalization of $494.19 million, a PE ratio of -1.65 and a beta of 1.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The stock has a 50-day moving average price of $0.60 and a 200-day moving average price of $1.06.

Tilray (NASDAQ:TLRY - Get Free Report) last issued 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). The business had revenue of $185.78 million for 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, research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TLRY. Cerity Partners LLC acquired a new position in Tilray in the first quarter worth about $31,000. Capital Management Associates Inc increased its holdings in shares of Tilray by 100.0% in the 1st 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. Concurrent Investment Advisors LLC acquired a new stake in shares of Tilray during the 1st quarter valued at approximately $50,000. Vontobel Holding Ltd. boosted its holdings in Tilray by 25.8% in the first quarter. Vontobel Holding Ltd. now owns 241,844 shares of the company's stock worth $159,000 after purchasing an additional 49,643 shares during the period. Finally, Tradewinds Capital Management LLC increased its stake in Tilray by 2,038.6% during the first quarter. Tradewinds Capital Management LLC now owns 73,460 shares of the company's stock valued at $48,000 after purchasing an additional 70,025 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.