Tilray (NASDAQ:TLRY) Shares Down 0.3% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price fell 0.3% on Friday . The stock traded as low as $0.66 and last traded at $0.67. 10,925,776 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 44,870,711 shares. The stock had previously closed at $0.68.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their target price 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 2.1 %

The business has a 50-day simple moving average of $1.07 and a two-hundred day simple moving average of $1.39. The company has a market capitalization of $646.98 million, a price-to-earnings ratio of -2.29 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data 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 firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake 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 in the last quarter. Tidal Investments LLC lifted its holdings in Tilray by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after acquiring an additional 889,086 shares during the period. Quinn Opportunity Partners LLC boosted its position in shares of Tilray by 108.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock worth $2,152,000 after purchasing an additional 840,000 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Tilray during the 4th quarter worth $1,029,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after purchasing an additional 769,569 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.