Tilray (NASDAQ:TLRY) Reaches New 1-Year Low – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $0.97 and last traded at $0.99, with a volume of 7855432 shares trading hands. The stock had previously closed at $1.00.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their price objective 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Stock Down 5.0 %

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 50-day moving average is $1.24 and its two-hundred day moving average is $1.52. The stock has a market capitalization of $890.78 million, a price-to-earnings ratio of -3.20 and a beta of 2.07.

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

Insider Activity

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of Tilray by 1,314.1% during the 3rd 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. Point72 Asset Management L.P. acquired a new stake in shares of Tilray during the third quarter worth about $1,348,000. Creative Planning raised its stake in shares of Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after purchasing an additional 38,054 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Tilray by 11.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after acquiring an additional 70,605 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after acquiring an additional 174,997 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.