Tilray (NASDAQ:TLRY) Hits New 52-Week Low – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares reached a new 52-week low on Monday . The stock traded as low as $0.58 and last traded at $0.62, with a volume of 36983644 shares trading hands. The stock had previously closed at $0.59.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three investment 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, Tilray presently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Stock Up 6.4 %

The business’s fifty day moving average is $0.98 and its two-hundred day moving average is $1.33. The company has a market cap of $587.91 million, a P/E ratio of -2.03 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 for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares in the last quarter. Newman Dignan & Sheerar Inc. boosted its stake in Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Tilray by 55.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock worth $42,000 after purchasing an additional 11,325 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Tilray by 92.1% in the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock worth $36,000 after purchasing an additional 13,136 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in Tilray by 59.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock worth $49,000 after purchasing an additional 13,786 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.