Tilray (NASDAQ:TLRY) Shares Down 0.2% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 0.2% during mid-day trading on Friday . The stock traded as low as $0.85 and last traded at $0.87. Approximately 12,718,516 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 46,480,660 shares. The stock had previously closed at $0.87.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Down 3.4 %

The company has a market capitalization of $785.76 million, a P/E ratio of -2.79 and a beta of 2.07. 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 stock has a fifty day moving average of $1.17 and a 200 day moving average of $1.47.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

Hedge funds have recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in shares of Tilray by 53.0% during the 4th quarter. Toronto Dominion Bank now owns 197,207 shares of the company’s stock valued at $260,000 after buying an additional 68,284 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tilray by 17.1% during the fourth 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 during the period. Two Sigma Advisers LP lifted its position in shares of Tilray by 81.7% in the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock valued at $219,000 after acquiring an additional 74,100 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Tilray by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after acquiring an additional 889,086 shares during the period. Finally, State of Wyoming grew its position in shares of Tilray by 78.0% during the fourth quarter. State of Wyoming now owns 103,489 shares of the company’s stock worth $138,000 after purchasing an additional 45,361 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.