Tilray (NASDAQ:TLRY) Stock Price Down 5.3% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) fell 5.3% during mid-day trading on Thursday . The company traded as low as $0.60 and last traded at $0.61. 12,245,278 shares traded hands during trading, a decline of 73% from the average session volume of 45,057,148 shares. The stock had previously closed at $0.64.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upped their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Trading Up 3.5 %

The business’s 50-day moving average is $0.98 and its two-hundred day moving average is $1.34. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $571.88 million, a PE ratio of -2.03 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last issued its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray

A number of large investors have recently bought and sold shares of the business. Bank of Montreal Can raised its position in shares of Tilray by 0.3% during the 3rd 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. Newman Dignan & Sheerar Inc. increased its position in Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after buying an additional 10,000 shares during the period. Tower Research Capital LLC TRC lifted its stake in Tilray by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock valued at $42,000 after buying an additional 11,325 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Tilray by 92.1% during the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock valued at $36,000 after acquiring an additional 13,136 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in shares of Tilray by 59.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock worth $49,000 after acquiring an additional 13,786 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.