Tilray (NASDAQ:TLRY) Trading Down 2.2% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s stock price fell 2.2% on Tuesday . The stock traded as low as $0.91 and last traded at $0.91. 16,618,676 shares were traded during trading, a decline of 64% from the average session volume of 46,338,965 shares. The stock had previously closed at $0.93.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their target price on 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tilray presently has an average rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The firm has a fifty day moving average of $1.20 and a two-hundred day moving average of $1.48. The stock has a market capitalization of $838.83 million, a P/E ratio of -2.98 and a beta of 2.07.

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). The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. On average, analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray in the third quarter valued at about $26,000. Lido Advisors LLC purchased a new position in Tilray in the fourth quarter valued at about $28,000. Verdence Capital Advisors LLC purchased a new position in Tilray in the fourth quarter valued at about $29,000. Dudley Capital Management LLC purchased a new position in Tilray in the fourth quarter valued at about $29,000. Finally, Ameritas Advisory Services LLC purchased a new position in Tilray in the fourth quarter valued at about $32,000. 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.