Tilray (NASDAQ:TLRY) Stock Price Down 5.1% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares traded down 5.1% on Thursday . The stock traded as low as $0.61 and last traded at $0.62. 5,104,072 shares traded hands during trading, a decline of 83% from the average session volume of 30,147,025 shares. The stock had previously closed at $0.65.

Analyst Ratings Changes

Separately, Canaccord Genuity Group increased their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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 company has a market cap of $555.28 million, a P/E ratio of -1.97 and a beta of 1.88. The stock has a 50 day moving average price of $0.80 and a two-hundred day moving average price of $1.23.

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

Hedge Funds Weigh In On Tilray

Large investors have recently bought and sold shares of the company. Newman Dignan & Sheerar Inc. raised its holdings in Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after buying an additional 10,000 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Tilray by 55.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock valued at $42,000 after acquiring an additional 11,325 shares during the period. NewEdge Advisors LLC raised its stake 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 last quarter. TD Waterhouse Canada Inc. raised its position in Tilray by 59.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock worth $49,000 after purchasing an additional 13,786 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Tilray by 68.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company’s stock worth $47,000 after acquiring an additional 14,221 shares during the period. 9.35% of the stock is currently owned by 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.