Tilray (NASDAQ:TLRY) Stock Price Down 2.5% – Here’s Why

Tilray Inc (NASDAQ:TLRYGet Free Report) shares traded down 2.5% during mid-day trading on Thursday . The stock traded as low as $0.84 and last traded at $0.85. 10,613,839 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 46,799,211 shares. The stock had previously closed at $0.87.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.70.

View Our Latest Stock Report on TLRY

Tilray Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The firm has a market capitalization of $808.26 million, a P/E ratio of -2.87 and a beta of 2.07. The stock has a fifty day moving average price of $1.18 and a two-hundred day moving average price of $1.47.

Tilray (NASDAQ:TLRYGet Free Report) last released its earnings results 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 business had revenue of $210.90 million for 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 company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in Tilray by 1,314.1% in 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Tilray in the third quarter worth $1,348,000. Creative Planning increased its holdings in shares of Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company’s stock valued at $250,000 after purchasing an additional 38,054 shares during the period. Barclays PLC raised its stake in shares of Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after purchasing an additional 18,208 shares during the period. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Tilray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tilray and related companies with MarketBeat.com's FREE daily email newsletter.