Tilray (NASDAQ:TLRY) Shares Down 4.9% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s share price fell 4.9% on Monday . The company traded as low as $0.61 and last traded at $0.63. 6,884,910 shares were traded 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 Ratings Changes

Separately, Canaccord Genuity Group boosted their price target 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 given a buy rating to the company. According to data from MarketBeat, Tilray has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

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 stock’s fifty day moving average is $0.83 and its two-hundred day moving average is $1.25. The firm has a market capitalization of $613.41 million, a price-to-earnings ratio of -2.18 and a beta of 2.13.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TLRY. Bank of Montreal Can boosted its position in Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares during the period. Newman Dignan & Sheerar Inc. grew its stake in Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after buying an additional 10,000 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Tilray by 55.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock valued at $42,000 after acquiring an additional 11,325 shares during the period. NewEdge Advisors LLC lifted its position in 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 acquiring an additional 13,136 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings 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 acquiring an additional 13,786 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.