Tilray (NASDAQ:TLRY) Hits New 12-Month Low – Here’s Why

Tilray Inc (NASDAQ:TLRY) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.28 and last traded at $1.30, with a volume of 1868774 shares changing hands. The stock had previously closed at $1.30.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The business’s 50 day moving average price is $1.55 and its 200-day moving average price is $1.71. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -4.77 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter last year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently added to or reduced their stakes in TLRY. Vanguard Group Inc. raised its stake in shares of Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after buying an additional 117,891 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares during the period. State Street Corp increased its holdings 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 purchasing an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 buying an additional 107,530 shares during the last quarter. 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.