Tilray (NASDAQ:TLRY) Stock Price Down 4.3% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares fell 4.3% during trading on Monday . The company traded as low as $0.97 and last traded at $1.01. 21,987,405 shares changed hands during trading, a decline of 48% from the average session volume of 42,106,961 shares. The stock had previously closed at $1.05.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TLRY. Roth Mkm reduced their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group boosted their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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 company has a 50 day moving average of $1.27 and a 200 day moving average of $1.55. The firm has a market cap of $928.28 million, a price-to-earnings ratio of -3.30 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last announced 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). 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%. Tilray’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can boosted its position in shares of 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 buying an additional 7,406 shares during the period. State Street Corp boosted its position in shares of Tilray by 4.7% during the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after buying an additional 88,079 shares during the period. BNP Paribas Financial Markets boosted its position 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tilray by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after buying an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Tilray by 2.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock worth $2,617,000 after purchasing an additional 37,300 shares during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.