Tilray (NASDAQ:TLRY) Trading 3.1% Higher - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price was up 3.1% during trading on Thursday . The stock traded as high as $0.50 and last traded at $0.50. Approximately 4,277,085 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 28,920,594 shares. The stock had previously closed at $0.49.

Analyst Upgrades and Downgrades

TLRY has been the topic of several research reports. Roth Capital reissued a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Piper Sandler decreased their price objective on Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Canaccord Genuity Group increased their target price on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research note on Monday, January 13th.

Tilray Stock Performance

The stock has a 50 day simple moving average of $0.59 and a 200 day simple moving average of $1.06. The company has a market cap of $458.06 million, a price-to-earnings ratio of -1.52 and a beta of 1.88. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

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

Institutional Trading of Tilray

Hedge funds have recently bought and sold shares of the company. Lido Advisors LLC bought a new position in shares of Tilray during the 4th quarter valued at $28,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray during the 4th quarter worth about $29,000. Verdence Capital Advisors LLC acquired a new position in Tilray in the fourth quarter worth $29,000. Ameritas Advisory Services LLC acquired a new position in Tilray during the 4th quarter worth $32,000. Finally, Newman Dignan & Sheerar Inc. raised its stake in shares of Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after buying an additional 10,000 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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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