Tilray (NASDAQ:TLRY) Shares Down 0.8% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares fell 0.8% on Wednesday . The stock traded as low as $0.64 and last traded at $0.65. 2,809,920 shares changed hands during trading, a decline of 91% from the average session volume of 30,269,809 shares. The stock had previously closed at $0.65.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price objective 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 0.7 %

The company’s 50-day simple moving average is $0.83 and its two-hundred day simple moving average is $1.25. The firm has a market cap of $617.73 million, a PE ratio of -2.20 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 earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

A number of hedge funds have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in shares of Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Bank of Montreal Can lifted its position in Tilray by 14.4% in 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 stake in 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 buying an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP increased 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 purchasing an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tilray by 17.1% in 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 worth $2,613,000 after purchasing an additional 286,481 shares during the period. 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.