Tilray (NASDAQ:TLRY) Hits New 12-Month Low – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) hit a new 52-week low during trading on Monday . The company traded as low as $0.71 and last traded at $0.72, with a volume of 6672688 shares trading hands. The stock had previously closed at $0.74.

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 stock a “buy” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Tilray has an average rating of “Hold” and an average price target of $2.70.

Tilray Stock Performance

The business’s fifty day moving average price is $1.10 and its 200-day moving average price is $1.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The stock has a market capitalization of $673.52 million, a PE ratio of -2.39 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last posted its 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 firm had revenue of $210.90 million during 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 company’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

Several large investors have recently added to or reduced their stakes in TLRY. Toronto Dominion Bank boosted 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 valued at $260,000 after acquiring an additional 68,284 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tilray by 17.1% in 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 valued at $2,613,000 after purchasing an additional 286,481 shares in the last quarter. Two Sigma Advisers LP lifted its position in Tilray by 81.7% during the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock valued at $219,000 after purchasing an additional 74,100 shares during the last quarter. Tidal Investments LLC lifted its position in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Finally, State of Wyoming lifted its position in Tilray by 78.0% during the fourth quarter. State of Wyoming now owns 103,489 shares of the company’s stock valued at $138,000 after purchasing an additional 45,361 shares during 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.