Tilray (NASDAQ:TLRY) Trading 1.8% Higher - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price shot up 1.8% during mid-day trading on Friday . The stock traded as high as $0.51 and last traded at $0.50. 11,968,741 shares traded hands during trading, a decline of 69% from the average session volume of 38,695,980 shares. The stock had previously closed at $0.49.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Roth Capital reiterated a "neutral" rating on shares of Tilray in a research note on Monday, April 14th. Piper Sandler dropped their price target on Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research note on Monday, January 13th.

Tilray Stock Performance

The firm's fifty day moving average price is $0.62 and its two-hundred day moving average price is $1.08. The stock has a market capitalization of $490.26 million, a PE ratio of -1.62 and a beta of 1.88. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data 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 for 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, equities research analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

A number of institutional investors and hedge funds have recently made changes to their positions in TLRY. Tidal Investments LLC raised its holdings in shares of Tilray by 9.2% in the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after buying an additional 889,086 shares during the period. Quinn Opportunity Partners LLC lifted its position in shares of Tilray by 108.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after purchasing an additional 840,000 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Tilray in the fourth quarter valued at approximately $1,029,000. Dimensional Fund Advisors LP lifted its holdings in Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after buying an additional 769,569 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Tilray in the 4th quarter valued at approximately $879,000. 9.35% of the stock is 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.