Tilray (NASDAQ:TLRY) Trading Down 4.6% – Here’s Why

Tilray Inc (NASDAQ:TLRY) fell 4.6% during trading on Tuesday . The stock traded as low as $0.64 and last traded at $0.65. 12,968,518 shares were traded during mid-day trading, a decline of 71% from the average session volume of 45,452,867 shares. The stock had previously closed at $0.68.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised their price objective on shares of 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Tilray currently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 1.6 %

The stock has a market cap of $650.83 million, a P/E ratio of -2.31 and a beta of 2.13. The firm’s fifty day moving average is $1.11 and its 200 day moving average is $1.41. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

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). The business 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, equities research analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Toronto Dominion Bank increased its position in shares of Tilray by 53.0% during the 4th quarter. Toronto Dominion Bank now owns 197,207 shares of the company’s stock worth $260,000 after purchasing an additional 68,284 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tilray by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock worth $2,613,000 after buying an additional 286,481 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Tilray by 81.7% in the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock valued at $219,000 after acquiring an additional 74,100 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Tilray by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after acquiring an additional 889,086 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Tilray by 78.0% in the 4th quarter. State of Wyoming now owns 103,489 shares of the company’s stock worth $138,000 after acquiring an additional 45,361 shares in the last quarter. 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.