Tilray (NASDAQ:TLRY) Trading Up 3.4% – Should You Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price rose 3.4% during trading on Wednesday . The company traded as high as $0.48 and last traded at $0.47. Approximately 7,855,447 shares were traded during trading, a decline of 74% from the average daily volume of 29,703,459 shares. The stock had previously closed at $0.46.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Piper Sandler decreased their target price on shares of Tilray from $2.00 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday. Canaccord Genuity Group increased their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Tilray currently has an average rating of “Hold” and an average price target of $2.35.

Tilray Stock Up 12.4 %

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 company has a market capitalization of $481.02 million, a P/E ratio of -1.73 and a beta of 1.88. The stock has a 50 day moving average price of $0.77 and a 200 day moving average price of $1.20.

Tilray (NASDAQ:TLRY) last announced its quarterly 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 business had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. On average, research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in Tilray by 4.9% during the third quarter. The Manufacturers Life Insurance Company now owns 715,672 shares of the company’s stock worth $1,260,000 after buying an additional 33,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tilray by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares during the period. Point72 Asset Management L.P. bought a new stake in Tilray in the third quarter worth approximately $1,348,000. State Street Corp lifted its stake in Tilray by 4.7% in the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after buying an additional 88,079 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after buying an additional 257,641 shares in the last quarter. Institutional investors and hedge funds 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.