Tilray (NASDAQ:TLRY) Shares Down 5.1% – Here’s What Happened

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

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

The company has a market capitalization of $555.28 million, a P/E ratio of -1.97 and a beta of 1.88. The business’s 50-day moving average is $0.80 and its two-hundred day moving average is $1.23. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last posted 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). The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently made changes to their positions in the business. Lido Advisors LLC bought a new position in Tilray during the fourth quarter valued at about $28,000. Dudley Capital Management LLC purchased a new stake in shares of Tilray during the 4th quarter worth approximately $29,000. Verdence Capital Advisors LLC bought a new stake in shares of Tilray in the 4th quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new position in Tilray in the fourth quarter valued at approximately $32,000. Finally, Newman Dignan & Sheerar Inc. grew its holdings in Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after purchasing an additional 10,000 shares during the period. 9.35% of the stock is currently owned by institutional investors.

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.