Tilray (NASDAQ:TLRY) Stock Price Up 1.2% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) rose 1.2% during mid-day trading on Monday . The stock traded as high as $0.45 and last traded at $0.43. Approximately 9,660,216 shares traded hands during trading, a decline of 66% from the average daily volume of 28,501,778 shares. The stock had previously closed at $0.43.

Analyst Ratings Changes

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

Tilray Stock Performance

The stock has a 50-day simple moving average of $0.56 and a 200-day simple moving average of $1.00. 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 stock has a market cap of $462.28 million, a PE ratio of -1.53 and a beta of 1.95.

Tilray (NASDAQ:TLRY) last posted 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). The firm had revenue of $185.78 million for the quarter, compared to analysts’ expectations of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Equities analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. Lido Advisors LLC acquired a new position in shares of Tilray in the fourth quarter worth about $28,000. Verdence Capital Advisors LLC acquired a new position in shares of Tilray in the fourth quarter worth about $29,000. Dudley Capital Management LLC acquired a new position in shares of Tilray in the fourth quarter worth about $29,000. Cerity Partners LLC acquired a new position in shares of Tilray in the first quarter worth about $31,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Tilray in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.