Tilray (NASDAQ:TLRY) Shares Up 1.8% – Here’s What Happened

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

Wall Street Analyst Weigh In

TLRY has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Roth Capital reissued a “neutral” rating on shares of Tilray in a research note on Monday, April 14th. Finally, Piper Sandler decreased their price target on shares of Tilray from $2.00 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th.

Tilray Trading Down 1.1 %

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

Tilray (NASDAQ:TLRY) last released its quarterly 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 for the quarter, compared to analyst estimates of $213.38 million. On average, research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. 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 valued at $35,000 after acquiring an additional 10,000 shares in the last quarter. Tower Research Capital LLC TRC grew its position in 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 purchasing an additional 11,325 shares in the last quarter. NewEdge Advisors LLC grew its position in Tilray by 92.1% during the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock valued at $36,000 after purchasing an additional 13,136 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in Tilray by 59.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock valued at $49,000 after buying an additional 13,786 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its position in Tilray by 68.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company’s stock worth $47,000 after buying an additional 14,221 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.