Tilray (NASDAQ:TLRY) Reaches New 52-Week Low – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.13 and last traded at $1.15, with a volume of 7493427 shares trading hands. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

TLRY has been the topic of several research analyst reports. Roth Mkm lowered their price objective on shares of 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 objective on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Trading Down 2.1 %

The business has a 50 day simple moving average of $1.32 and a 200 day simple moving average of $1.60. 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 company has a market cap of $1.07 billion, a price-to-earnings ratio of -3.82 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last announced its earnings results 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). The company had revenue of $210.90 million for the quarter, compared to analyst estimates 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 for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its holdings in Tilray by 0.3% during the 3rd 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. State Street Corp lifted its position in shares of Tilray by 4.7% in the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after buying an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after acquiring an additional 1,690,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tilray by 6.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock valued at $2,953,000 after acquiring an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Tilray by 2.6% during 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. Institutional investors and hedge funds 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.