Tilray (NASDAQ:TLRY) Trading Up 1.7% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price shot up 1.7% on Tuesday . The company traded as high as $0.46 and last traded at $0.46. 7,528,632 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 29,283,931 shares. The stock had previously closed at $0.45.

Wall Street Analysts Forecast Growth

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

Tilray Price Performance

The stock has a market capitalization of $501.24 million, a P/E ratio of -1.67 and a beta of 1.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company's 50-day simple moving average is $0.63 and its 200-day simple moving average is $1.10.

Tilray (NASDAQ:TLRY - Get Free Report) last issued 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). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $185.78 million during the quarter, compared to the consensus estimate of $213.38 million. As a group, sell-side analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Bank of Montreal Can raised its position in shares of Tilray by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after purchasing an additional 312,476 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tilray by 20.1% during the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after buying an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tilray by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after buying an additional 286,481 shares during the last quarter. 9.35% of the stock is currently owned by 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.