Tilray (NASDAQ:TLRY) Reaches New 1-Year Low – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) hit a new 52-week low during trading on Monday . The stock traded as low as $0.97 and last traded at $1.00, with a volume of 1979662 shares traded. The stock had previously closed at $1.05.

Analyst Upgrades and Downgrades

Several brokerages have commented on TLRY. Roth Mkm decreased their target price on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group boosted their target price on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Trading Down 5.7 %

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 firm has a market capitalization of $928.28 million, a PE ratio of -3.30 and a beta of 2.07. The business’s fifty day moving average price is $1.27 and its 200 day moving average price is $1.55.

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 the consensus estimate of ($0.03) by ($0.07). The company had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Tilray’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray in the 3rd quarter worth approximately $26,000. International Assets Investment Management LLC boosted its position in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after purchasing an additional 18,208 shares during the period. Vista Capital Partners Inc. acquired a new position in Tilray during the 3rd quarter valued at approximately $42,000. Ameritas Advisory Services LLC acquired a new position in Tilray during the 4th quarter valued at approximately $32,000. Finally, Capital Management Associates Inc acquired a new position in Tilray during the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds 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.