Tilray (NASDAQ:TLRY) Trading Up 4.5% – Time to Buy?

Tilray Inc (NASDAQ:TLRY)’s share price was up 4.5% during mid-day trading on Friday . The stock traded as high as $0.46 and last traded at $0.46. Approximately 6,080,678 shares were traded during trading, a decline of 79% from the average daily volume of 28,315,347 shares. The stock had previously closed at $0.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TLRY shares. Piper Sandler dropped their target price on shares of Tilray from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Roth Capital reiterated a “neutral” rating on shares of Tilray in a research report on Monday, April 14th.

Tilray Trading Up 12.5%

The company has a market capitalization of $498.22 million, a PE ratio of -1.65 and a beta of 1.95. 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 fifty day moving average of $0.53 and a two-hundred day moving average of $0.96.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share 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%. As a group, sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

Several institutional investors have recently added to or reduced their stakes in the business. Newman Dignan & Sheerar Inc. boosted its position in Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after buying an additional 10,000 shares during the period. Tower Research Capital LLC TRC increased its stake in Tilray by 55.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock worth $42,000 after purchasing an additional 11,325 shares during the period. NewEdge Advisors LLC increased its stake in Tilray by 92.1% in the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock worth $36,000 after purchasing an additional 13,136 shares during the period. 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 worth $49,000 after purchasing an additional 13,786 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake 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 purchasing an additional 14,221 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.