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

Shares of Tilray Inc (NASDAQ:TLRY) reached a new 52-week low during trading on Monday . The company traded as low as $0.97 and last traded at $1.00, with a volume of 1979662 shares traded. The stock had previously closed at $1.05.

Wall Street Analyst Weigh In

A number of analysts have commented on TLRY shares. Roth Mkm dropped their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group boosted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research 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’s stock. Based on data from MarketBeat.com, Tilray currently has an average rating of “Hold” and an average target price of $2.70.

Tilray Stock Performance

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 business’s fifty day moving average is $1.26 and its 200 day moving average is $1.54.

Tilray (NASDAQ:TLRY) last released its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Activity

In other news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its position in Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after acquiring an additional 7,406 shares in the last quarter. State Street Corp grew its position in Tilray by 4.7% in the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after acquiring an additional 88,079 shares in the last quarter. BNP Paribas Financial Markets grew its position in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after acquiring an additional 1,690,827 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tilray by 6.8% in 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 acquiring an additional 107,530 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Tilray by 2.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock worth $2,617,000 after acquiring an additional 37,300 shares in the last quarter. 9.35% of the stock is 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.