Tilray (NASDAQ:TLRY) Stock Price Up 4.5% – Still a Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price was up 4.5% on Monday . The company traded as high as $0.43 and last traded at $0.42. Approximately 6,613,761 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 29,043,228 shares. The stock had previously closed at $0.40.

Analysts Set New Price Targets

A number of brokerages have recently commented on TLRY. Piper Sandler lowered their target price on Tilray from $2.00 to $1.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Roth Capital restated a “neutral” rating on shares of Tilray in a research report on Monday, April 14th.

Tilray Stock Performance

The company has a market capitalization of $422.73 million, a price-to-earnings ratio of -1.40 and a beta of 1.83. The firm has a fifty day simple moving average of $0.45 and a 200 day simple moving average of $0.81. 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 announced its 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 business 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%. On average, 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 modified their holdings of TLRY. Tidal Investments LLC raised its holdings in shares of Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after acquiring an additional 889,086 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake in Tilray by 108.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock worth $2,152,000 after purchasing an additional 840,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Tilray during the 4th quarter worth $1,029,000. Dimensional Fund Advisors LP grew its holdings in shares of Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after buying an additional 769,569 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Tilray in the fourth quarter valued at about $879,000. 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.