Tilray (NASDAQ:TLRY) Shares Up 2% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price shot up 2% during trading on Thursday . The company traded as high as $0.47 and last traded at $0.45. 13,005,580 shares were traded during mid-day trading, a decline of 56% from the average session volume of 29,294,615 shares. The stock had previously closed at $0.44.

Analyst Upgrades and Downgrades

TLRY has been the topic of several recent research reports. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a research note on Monday, April 14th. Canaccord Genuity Group boosted their target price on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Finally, Piper Sandler reduced their price target 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 Performance

The stock has a market capitalization of $460.98 million, a price-to-earnings ratio of -1.51 and a beta of 1.88. The firm has a fifty day moving average of $0.64 and a 200 day moving average of $1.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results 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 return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. On average, sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lido Advisors LLC acquired a new stake in Tilray during the 4th quarter worth approximately $28,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray in the fourth quarter valued at $29,000. Dudley Capital Management LLC purchased a new position in Tilray in the fourth quarter valued at $29,000. Ameritas Advisory Services LLC purchased a new position in Tilray in the fourth quarter valued at $32,000. Finally, Newman Dignan & Sheerar Inc. grew its stake in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after purchasing an additional 10,000 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.

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