Tilray (NASDAQ:TLRY) Shares Down 0.6% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) shares were down 0.6% during trading on Tuesday . The company traded as low as $0.67 and last traded at $0.68. Approximately 7,088,208 shares changed hands during trading, a decline of 84% from the average daily volume of 43,770,961 shares. The stock had previously closed at $0.68.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Tilray currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The firm has a market capitalization of $669.49 million, a price-to-earnings ratio of -2.38 and a beta of 2.13. The firm’s 50-day moving average price is $0.87 and its two-hundred day moving average price is $1.28. 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 released 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 analyst estimates of $216.34 million. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

Several large investors have recently made changes to their positions in TLRY. Bank of Montreal Can grew its stake in 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 last quarter. Newman Dignan & Sheerar Inc. boosted its stake in Tilray by 61.9% in the fourth 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 grew its holdings in shares of Tilray by 55.1% during the fourth 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 during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Tilray by 92.1% in the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock valued at $36,000 after buying an additional 13,136 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in Tilray by 59.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock worth $49,000 after buying 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.