Tilray (NASDAQ:TLRY) Shares Up 0.8% - Still a Buy?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) shot up 0.8% during trading on Wednesday . The company traded as high as $0.49 and last traded at $0.46. 7,614,100 shares traded hands during trading, a decline of 74% from the average session volume of 29,280,333 shares. The stock had previously closed at $0.46.

Analyst Ratings Changes

TLRY has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a report 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 reduced their price objective on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th.

Tilray Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The firm has a market capitalization of $490.26 million, a P/E ratio of -1.62 and a beta of 1.88. The firm has a 50 day moving average price of $0.62 and a two-hundred day moving average price of $1.08.

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 firm had revenue of $185.78 million during 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 research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

A number of institutional investors and hedge funds have recently bought and sold shares of TLRY. Tradewinds Capital Management LLC increased its position in shares of Tilray by 2,038.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 73,460 shares of the company's stock valued at $48,000 after buying an additional 70,025 shares in the last quarter. KBC Group NV lifted its stake in Tilray by 102.6% in the 1st quarter. KBC Group NV now owns 77,657 shares of the company's stock valued at $51,000 after purchasing an additional 39,325 shares during the last quarter. Madrona Financial Services LLC boosted its holdings in shares of Tilray by 42.9% during the 1st quarter. Madrona Financial Services LLC now owns 100,000 shares of the company's stock worth $66,000 after buying an additional 30,000 shares during the period. Garde Capital Inc. acquired a new position in Tilray in the 1st quarter valued at $46,000. Finally, California State Teachers Retirement System raised its position in shares of Tilray by 8.0% in the fourth quarter. California State Teachers Retirement System now owns 778,513 shares of the company's stock valued at $1,035,000 after buying an additional 57,544 shares in the last quarter. Institutional investors and hedge funds 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.