Tilray (NASDAQ:TLRY) Shares Down 5.6% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price dropped 5.6% on Friday . The stock traded as low as $0.47 and last traded at $0.48. Approximately 8,427,173 shares traded hands during trading, a decline of 71% from the average daily volume of 29,487,501 shares. The stock had previously closed at $0.51.

Wall Street Analyst Weigh In

TLRY has been the topic of several research reports. Piper Sandler reduced their price objective on Tilray from $2.00 to $1.00 and set a “neutral” rating on the stock in a report on Wednesday. Canaccord Genuity Group raised their price target on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

Tilray Stock Down 3.2 %

The business’s 50 day moving average is $0.74 and its 200 day moving average is $1.18. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company has a market cap of $458.51 million, a P/E ratio of -1.62 and a beta of 1.88.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $185.78 million during the quarter, compared to the consensus estimate of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. As a group, equities analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Tilray by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 715,672 shares of the company’s stock valued at $1,260,000 after purchasing an additional 33,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tilray by 6.8% in the third 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 acquiring an additional 107,530 shares in the last quarter. State Street Corp boosted its holdings in Tilray by 4.7% in the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after acquiring an additional 88,079 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after acquiring an additional 257,641 shares in the last quarter. Finally, Barclays PLC boosted its stake in Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares in the last quarter. Institutional investors 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.