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

Tilray Inc (NASDAQ:TLRY) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $0.71 and last traded at $0.72, with a volume of 6672688 shares. The stock had previously closed at $0.74.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 3.5 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The stock’s 50 day moving average price is $1.10 and its 200-day moving average price is $1.40. The company has a market cap of $673.52 million, a PE ratio of -2.39 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last posted its quarterly 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). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray

A number of institutional investors have recently made changes to their positions in TLRY. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray during the 3rd quarter valued at $26,000. Lido Advisors LLC purchased a new position in shares of Tilray in the fourth quarter valued at about $28,000. Verdence Capital Advisors LLC bought a new position in shares of Tilray during the fourth quarter valued at about $29,000. Dudley Capital Management LLC purchased a new stake in shares of Tilray during the fourth quarter worth about $29,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Tilray in the fourth quarter worth about $32,000. Hedge funds and other 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.