Tilray (NASDAQ:TLRY) Trading Up 4.5% - Time to Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) was up 4.5% on Friday . The company traded as high as $0.46 and last traded at $0.46. Approximately 6,080,678 shares were traded during trading, a decline of 79% from the average daily volume of 28,315,347 shares. The stock had previously closed at $0.44.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TLRY shares. Roth Capital reissued a "neutral" rating on shares of Tilray in a report on Monday, April 14th. Piper Sandler decreased their price objective on Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th.

Tilray Stock Up 11.6%

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $0.54 and a 200 day simple moving average of $0.97. The firm has a market capitalization of $494.19 million, a PE ratio of -1.62 and a beta of 1.95.

Tilray (NASDAQ:TLRY - Get Free Report) last announced 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 company had revenue of $185.78 million during the quarter, compared to analysts' expectations of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray

Large investors have recently bought and sold shares of the stock. Lido Advisors LLC purchased a new position in Tilray in the 4th quarter worth approximately $28,000. Dudley Capital Management LLC bought a new stake in shares of Tilray in the 4th quarter worth approximately $29,000. Verdence Capital Advisors LLC bought a new stake in shares of Tilray in the 4th quarter worth approximately $29,000. Ameritas Advisory Services LLC bought a new stake in shares of Tilray in the 4th quarter worth approximately $32,000. Finally, Newman Dignan & Sheerar Inc. grew its position in shares of Tilray by 61.9% in the 4th 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.

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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