Tilray (NASDAQ:TLRY) Stock Price Up 1.2% – Here’s Why

Tilray Inc (NASDAQ:TLRY) shares rose 1.2% during mid-day trading on Monday . The stock traded as high as $0.45 and last traded at $0.43. Approximately 9,660,216 shares were traded during trading, a decline of 66% from the average daily volume of 28,501,778 shares. The stock had previously closed at $0.43.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of analyst reports. 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 report on Wednesday, April 9th. Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Roth Capital reiterated a “neutral” rating on shares of Tilray in a report on Monday, April 14th.

Tilray Stock Up 7.4%

The business has a 50 day moving average of $0.56 and a 200-day moving average of $1.00. The stock has a market cap of $462.28 million, a PE ratio of -1.53 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.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Swiss National Bank lifted its holdings in shares of Tilray by 2.3% in the 1st quarter. Swiss National Bank now owns 1,816,638 shares of the company’s stock valued at $1,194,000 after buying an additional 40,000 shares during the period. Wealthspire Advisors LLC acquired a new stake in shares of Tilray in the 1st quarter valued at approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tilray by 49.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,189 shares of the company’s stock valued at $111,000 after buying an additional 55,981 shares during the period. TD Asset Management Inc lifted its holdings in shares of Tilray by 6.5% in the 1st quarter. TD Asset Management Inc now owns 1,627,247 shares of the company’s stock valued at $1,063,000 after buying an additional 100,017 shares during the period. Finally, MCF Advisors LLC acquired a new stake in shares of Tilray in the 1st quarter valued at approximately $132,000. 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.