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

Tilray Inc (NASDAQ:TLRY) reached a new 52-week low on Tuesday . The company traded as low as $0.63 and last traded at $0.65, with a volume of 23750696 shares. The stock had previously closed at $0.69.

Wall Street Analysts Forecast Growth

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

Tilray Stock Performance

The company has a market capitalization of $610.04 million, a PE ratio of -2.17 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. The company has a 50 day moving average price of $1.04 and a 200 day moving average price of $1.37.

Tilray (NASDAQ:TLRY) last released 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 business had revenue of $210.90 million for 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 company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. Tidal Investments LLC raised its position in shares of Tilray by 9.2% during the 4th 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 in the last quarter. Bank of Montreal Can raised its position in shares of Tilray by 14.4% during the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock valued at $3,310,000 after acquiring an additional 312,476 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Tilray by 20.1% during the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock valued at $3,200,000 after acquiring an additional 403,371 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after acquiring an additional 769,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tilray by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock valued at $2,613,000 after acquiring an additional 286,481 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other 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.