Tilray (NASDAQ:TLRY) Trading 2.6% Higher - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares traded up 2.6% on Wednesday . The company traded as high as $0.44 and last traded at $0.43. 6,391,842 shares changed hands during trading, a decline of 78% from the average session volume of 28,479,934 shares. The stock had previously closed at $0.42.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TLRY shares. Canaccord Genuity Group raised their price target on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Roth Capital reiterated a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Finally, Piper Sandler cut their price objective 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 Price Performance

The company has a 50-day simple moving average of $0.57 and a two-hundred day simple moving average of $1.03. The stock has a market capitalization of $434.81 million, a price-to-earnings ratio of -1.44 and a beta of 1.95. 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 issued 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). 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, equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.

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