Tilray (NASDAQ:TLRY) Sets New 52-Week Low – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $1.25 and last traded at $1.25, with a volume of 1596899 shares trading hands. The stock had previously closed at $1.28.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their price objective 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.

Tilray Stock Down 4.3 %

The stock’s fifty day simple moving average is $1.51 and its 200-day simple moving average is $1.69. The stock has a market capitalization of $1.11 billion, a PE ratio of -4.54 and a beta of 2.09. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts forecast that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $1.36 per share, for a total transaction 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. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

A number of hedge funds have recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. bought a new position in Tilray in the 3rd quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Tilray in the 2nd quarter worth about $29,000. Jeppson Wealth Management LLC purchased a new position in Tilray during the second quarter worth $33,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Tilray in the second quarter worth approximately $34,000. Finally, Pallas Capital Advisors LLC purchased a new position in Tilray in the 2nd quarter worth about $37,000. Institutional investors own 9.35% of the company’s stock.

About Tilray

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.