Tilray (NASDAQ:TLRY) Trading Down 5.1% – What’s Next?

Tilray Inc (NASDAQ:TLRY) was down 5.1% during trading on Thursday . The company traded as low as $0.61 and last traded at $0.62. Approximately 5,104,072 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 30,147,025 shares. The stock had previously closed at $0.65.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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 stock has a fifty day moving average price of $0.82 and a 200-day moving average price of $1.24. The company has a market cap of $579.38 million, a PE ratio of -2.06 and a beta of 1.88.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 4.40% and a negative net margin of 30.95%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TLRY. Bank of Montreal Can boosted its position in shares of Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after buying an additional 7,406 shares during the period. The Manufacturers Life Insurance Company increased its position in Tilray by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 715,672 shares of the company’s stock worth $1,260,000 after buying an additional 33,194 shares during the period. BNP Paribas Financial Markets increased its position in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Tilray during the 3rd quarter worth $127,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tilray by 6.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.