Tilray (NASDAQ:TLRY) Trading Up 0.2% – Here’s Why

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler reduced their price target on Tilray from $2.00 to $1.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th.

Tilray Stock Down 0.6 %

The firm has a market cap of $454.29 million, a PE ratio of -1.61 and a beta of 1.88. The stock has a 50 day simple moving average of $0.73 and a 200-day simple moving average of $1.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY) last issued its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $185.78 million during the quarter, compared to analysts’ expectations of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Sell-side analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its holdings in Tilray by 8.0% in the 4th quarter. California State Teachers Retirement System now owns 778,513 shares of the company’s stock worth $1,035,000 after buying an additional 57,544 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Tilray by 317.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 166,326 shares of the company’s stock worth $221,000 after acquiring an additional 126,507 shares during the period. Toronto Dominion Bank raised its holdings in shares of Tilray by 53.0% during the fourth quarter. Toronto Dominion Bank now owns 197,207 shares of the company’s stock valued at $260,000 after purchasing an additional 68,284 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tilray by 17.1% during the fourth 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 purchasing an additional 286,481 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Tilray by 81.7% in the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock worth $219,000 after purchasing an additional 74,100 shares during 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.