Tilray (NASDAQ:TLRY) Stock Price Down 5.1% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) traded down 5.1% during mid-day trading on Thursday . The stock traded as low as $0.61 and last traded at $0.62. 5,104,072 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 30,147,025 shares. The stock had previously closed at $0.65.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Tilray has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Price Performance

The firm’s 50-day moving average price is $0.82 and its 200-day moving average price is $1.24. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $579.38 million, a PE ratio of -2.06 and a beta of 1.88.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share 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 firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

A number of large investors have recently added to or reduced their stakes in TLRY. BNP Paribas Financial Markets grew its holdings in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Tilray in the third quarter valued at approximately $1,348,000. Atria Wealth Solutions Inc. increased its holdings in shares of Tilray by 174.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company’s stock valued at $112,000 after purchasing an additional 53,751 shares during the last quarter. Arizona State Retirement System lifted its position in Tilray by 9.9% during the fourth quarter. Arizona State Retirement System now owns 261,233 shares of the company’s stock worth $347,000 after buying an additional 23,439 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Tilray by 10.2% during the fourth quarter. Swiss National Bank now owns 1,776,638 shares of the company’s stock worth $2,363,000 after buying an additional 164,600 shares during the last quarter. 9.35% of the stock is currently 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.