Tilray (NASDAQ:TLRY) Trading 0.2% Higher - Time to Buy?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) shot up 0.2% on Monday . The company traded as high as $0.50 and last traded at $0.49. 8,850,328 shares were traded during trading, a decline of 70% from the average session volume of 29,390,402 shares. The stock had previously closed at $0.49.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TLRY shares. 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 report on Wednesday, April 9th. Canaccord Genuity Group raised their price objective on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a report on Monday, January 13th.

Tilray Stock Up 0.5 %

The stock's 50 day simple moving average is $0.70 and its 200 day simple moving average is $1.15. The stock has a market capitalization of $445.39 million, a P/E ratio of -1.58 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 posted its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share (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 the consensus estimate of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. As a group, research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Newman Dignan & Sheerar Inc. increased its stake in shares of Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after acquiring an additional 10,000 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Tilray by 55.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock valued at $42,000 after buying an additional 11,325 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Tilray by 92.1% in the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after buying an additional 13,136 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Tilray by 59.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock valued at $49,000 after purchasing an additional 13,786 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Tilray by 68.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock valued at $47,000 after acquiring an additional 14,221 shares during the period. 9.35% of the stock is currently 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.