Tilray (NASDAQ:TLRY) Trading 4.5% Higher - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report) traded up 4.5% during mid-day trading on Monday . The stock traded as high as $0.43 and last traded at $0.42. 6,613,761 shares were traded during mid-day trading, a decline of 77% from the average session volume of 29,043,228 shares. The stock had previously closed at $0.40.

Analysts Set New Price Targets

Several brokerages have commented on TLRY. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Piper Sandler dropped 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.

Tilray Price Performance

The stock has a market cap of $422.73 million, a PE ratio of -1.40 and a beta of 1.83. The firm's 50-day moving average price is $0.45 and its two-hundred day moving average price is $0.81. 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 released 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 firm had revenue of $185.78 million for the quarter, compared to analysts' expectations of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. On average, equities analysts expect that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in 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 in the last quarter. Bank of Montreal Can lifted its stake 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 buying an additional 312,476 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after acquiring an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $2,613,000 after acquiring an additional 286,481 shares during the last quarter. Hedge funds and other 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.

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