Tilray (NASDAQ:TLRY) Trading 0.2% Higher – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler decreased their target price on Tilray from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Canaccord Genuity Group boosted 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.

Tilray Trading Down 0.6 %

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

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

Institutional Trading of Tilray

Institutional investors and hedge funds have recently bought and sold shares of the company. Atria Wealth Solutions Inc. increased its holdings in shares of Tilray by 174.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company’s stock worth $112,000 after purchasing an additional 53,751 shares during the period. Arizona State Retirement System increased its stake in Tilray by 9.9% in the 4th quarter. Arizona State Retirement System now owns 261,233 shares of the company’s stock worth $347,000 after acquiring an additional 23,439 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Tilray in the 4th quarter valued at about $255,000. Swiss National Bank raised its holdings in shares of Tilray by 10.2% in the 4th quarter. Swiss National Bank now owns 1,776,638 shares of the company’s stock valued at $2,363,000 after acquiring an additional 164,600 shares in the last quarter. Finally, Quinn Opportunity Partners LLC boosted its position in shares of Tilray by 108.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock valued at $2,152,000 after acquiring an additional 840,000 shares during the last quarter. 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.