Tilray (NASDAQ:TLRY) Stock Price Down 1.1% – Here’s Why

Tilray Inc (NASDAQ:TLRY) was down 1.1% on Monday . The stock traded as low as $0.93 and last traded at $0.93. Approximately 26,009,440 shares traded hands during trading, a decline of 41% from the average daily volume of 44,451,032 shares. The stock had previously closed at $0.94.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price objective on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Down 2.3 %

The company’s fifty day moving average price is $1.20 and its 200-day moving average price is $1.48. The stock has a market cap of $819.23 million, a P/E ratio of -2.91 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray during the third quarter worth approximately $26,000. Lido Advisors LLC bought a new position in Tilray in the fourth quarter worth approximately $28,000. Verdence Capital Advisors LLC purchased a new position in Tilray during the 4th quarter worth $29,000. Dudley Capital Management LLC bought a new stake in Tilray during the 4th quarter valued at $29,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Tilray during the 4th quarter worth $32,000. Hedge funds and other 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.