Tilray (NASDAQ:TLRY) Shares Down 1.1%

Tilray Inc (NASDAQ:TLRY) shares traded down 1.1% on Wednesday . The company traded as low as $1.79 and last traded at $1.79. 5,641,798 shares were traded during mid-day trading, a decline of 78% from the average session volume of 25,895,740 shares. The stock had previously closed at $1.81.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of analyst reports. CIBC cut their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Canaccord Genuity Group lowered their price target on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th.

Tilray Stock Down 3.2 %

The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -4.07 and a beta of 2.19. The company has a current ratio of 2.27, a quick ratio of 1.18 and a debt-to-equity ratio of 0.10. The firm’s 50 day simple moving average is $1.79 and its 200-day simple moving average is $1.89.

Tilray (NASDAQ:TLRY) last issued its earnings results on Monday, July 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $229.90 million during the quarter, compared to analysts’ expectations of $226.20 million. Tilray had a negative net margin of 30.26% and a negative return on equity of 2.63%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) EPS. On average, sell-side analysts anticipate that Tilray Inc will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

Large investors have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in Tilray by 36,687.0% in the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after purchasing an additional 10,648,403 shares in the last quarter. Virtu Financial LLC acquired a new stake in Tilray during the 1st quarter valued at $586,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tilray by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after buying an additional 213,834 shares in the last quarter. Mackenzie Financial Corp boosted its position in Tilray by 482.8% in the 4th quarter. Mackenzie Financial Corp now owns 206,659 shares of the company’s stock valued at $477,000 after buying an additional 171,200 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its holdings in Tilray by 103.1% in the second quarter. Baader Bank Aktiengesellschaft now owns 304,582 shares of the company’s stock worth $504,000 after purchasing an additional 154,582 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

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 Nanaimo, Canada.