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

Tilray Inc (NASDAQ:TLRY) hit a new 52-week low during trading 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 Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The company has a market cap of $587.91 million, a PE ratio of -2.03 and a beta of 2.13. The firm’s fifty day moving average is $0.98 and its 200 day moving average is $1.33. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last released its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently modified their holdings of the company. Bank of Montreal Can lifted its position in Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares during the last quarter. Newman Dignan & Sheerar Inc. increased its stake in shares of Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after buying an additional 10,000 shares during the period. Tower Research Capital LLC TRC increased its stake 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 buying an additional 11,325 shares during the period. NewEdge Advisors LLC increased its stake in shares of Tilray by 92.1% during the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock worth $36,000 after buying an additional 13,136 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Tilray by 59.4% during the fourth 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 during the period. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Tilray

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.