Tilray (NASDAQ:TLRY) Reaches New 1-Year Low – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s stock price reached a new 52-week low on Monday . The company traded as low as $0.97 and last traded at $1.00, with a volume of 1979662 shares. The stock had previously closed at $1.05.

Analyst Upgrades and Downgrades

TLRY has been the subject of a number of research analyst reports. Roth Mkm reduced their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group upped their price objective 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Down 5.7 %

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 has a market capitalization of $928.28 million, a price-to-earnings ratio of -3.30 and a beta of 2.07. The company’s 50-day moving average is $1.27 and its 200-day moving average is $1.55.

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

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TLRY. Wealth Enhancement Advisory Services LLC raised its holdings in Tilray by 22.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after purchasing an additional 7,339 shares in the last quarter. Bank of Montreal Can raised its holdings 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 in the last quarter. Newman Dignan & Sheerar Inc. raised its holdings in Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in Tilray by 58.1% during the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after purchasing an additional 11,632 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray in the 3rd quarter valued at $26,000. Hedge funds and other 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.