Tilray (NASDAQ:TLRY) Stock Price Down 4.9% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares fell 4.9% during mid-day trading on Monday . The stock traded as low as $0.61 and last traded at $0.63. 6,884,910 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 30,420,058 shares. The stock had previously closed at $0.66.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their target price on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tilray presently has an average rating of “Hold” and an average price target of $2.70.

Tilray Trading Down 1.2 %

The stock has a market capitalization of $614.16 million, a PE ratio of -2.18 and a beta of 2.13. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $0.85 and its 200-day moving average is $1.26.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TLRY. Tidal Investments LLC grew 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 boosted its holdings in Tilray by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock worth $3,310,000 after buying an additional 312,476 shares in the last quarter. Geode Capital Management LLC lifted its stake in Tilray by 20.1% during the fourth 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 in the last quarter. Dimensional Fund Advisors LP grew its position in Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after purchasing an additional 769,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tilray by 17.1% in 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 worth $2,613,000 after buying an additional 286,481 shares during the period. 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.