Tilray (NASDAQ:TLRY) Hits New 12-Month Low – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.13 and last traded at $1.15, with a volume of 7493427 shares. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

TLRY has been the topic of several recent analyst reports. Roth Mkm decreased their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group boosted their target price on Tilray from $2.00 to $3.00 and gave the stock 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 assigned a buy rating to the stock. Based on data from MarketBeat, Tilray currently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Down 2.1 %

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -3.82 and a beta of 2.08. The stock’s 50-day moving average is $1.32 and its 200-day moving average is $1.60.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data 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 company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray’s revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Bank of Montreal Can increased its holdings in Tilray by 19.6% during the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after acquiring an additional 355,778 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Tilray by 11.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock valued at $1,131,000 after acquiring an additional 70,605 shares during the last quarter. Algert Global LLC bought a new position in shares of Tilray in the second quarter worth approximately $130,000. Sanctuary Advisors LLC purchased a new position in Tilray in the 2nd quarter worth approximately $65,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Tilray by 54.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 52,067 shares of the company’s stock valued at $86,000 after acquiring an additional 18,423 shares during the last quarter. 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.