Tilray (NASDAQ:TLRY) Shares Up 0.8% - Here's What Happened

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. 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 note on Wednesday, April 9th. Roth Capital restated a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Finally, Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research report on Monday, January 13th.

Tilray Price Performance

The company has a 50 day moving average of $0.62 and a 200 day moving average of $1.08. 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 firm has a market cap of $490.26 million, a price-to-earnings ratio of -1.62 and a beta of 1.88.

Tilray (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $185.78 million for the quarter, compared to the consensus estimate of $213.38 million. Equities research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. Atria Wealth Solutions Inc. raised its stake in shares of Tilray by 174.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock valued at $112,000 after purchasing an additional 53,751 shares during the period. Quinn Opportunity Partners LLC raised its position in Tilray by 108.0% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock valued at $2,152,000 after buying an additional 840,000 shares during the last quarter. Arizona State Retirement System lifted its stake in Tilray by 9.9% in the 4th quarter. Arizona State Retirement System now owns 261,233 shares of the company's stock valued at $347,000 after acquiring an additional 23,439 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Tilray during the 4th quarter worth approximately $255,000. Finally, Swiss National Bank grew its stake in shares of Tilray by 10.2% during the 4th quarter. Swiss National Bank now owns 1,776,638 shares of the company's stock worth $2,363,000 after acquiring an additional 164,600 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.