Tilray (NASDAQ:TLRY) Shares Up 1.5% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares shot up 1.5% on Thursday . The company traded as high as $0.45 and last traded at $0.44. 10,680,059 shares were traded during trading, a decline of 62% from the average session volume of 28,455,221 shares. The stock had previously closed at $0.43.

Analyst Ratings Changes

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

Tilray Price Performance

The company's 50 day moving average price is $0.56 and its 200 day moving average price is $1.00. 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 company has a market cap of $462.28 million, a price-to-earnings ratio of -1.53 and a beta of 1.95.

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 analysts' consensus estimates of ($0.04) by ($0.06). The firm had revenue of $185.78 million during 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, equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank boosted its stake in Tilray by 2.3% in the first quarter. Swiss National Bank now owns 1,816,638 shares of the company's stock worth $1,194,000 after purchasing an additional 40,000 shares in the last quarter. Wealthspire Advisors LLC acquired a new position in Tilray during the 1st quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tilray by 49.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,189 shares of the company's stock worth $111,000 after acquiring an additional 55,981 shares during the last quarter. TD Asset Management Inc increased its position in Tilray by 6.5% in the 1st quarter. TD Asset Management Inc now owns 1,627,247 shares of the company's stock valued at $1,063,000 after acquiring an additional 100,017 shares in the last quarter. Finally, MCF Advisors LLC bought a new position in shares of Tilray in the first quarter worth about $132,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.