Tilray (NASDAQ:TLRY) Reaches New 1-Year Low – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) hit a new 52-week low during trading on Tuesday . The stock traded as low as $1.09 and last traded at $1.10, with a volume of 34362123 shares. The stock had previously closed at $1.14.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Roth Mkm lowered their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Down 3.9 %

The firm has a 50 day moving average price of $1.30 and a 200-day moving average price of $1.58. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -3.65 and a beta of 2.08. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY) last released 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 business had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, for a total transaction 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray

Several institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after acquiring an additional 7,339 shares during the last quarter. Bank of Montreal Can raised its holdings in Tilray by 0.3% in the third 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 during the period. Pallas Capital Advisors LLC boosted its position in shares of Tilray by 58.1% during the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after purchasing an additional 11,632 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray during the third quarter worth $26,000. Finally, KBC Group NV grew its holdings in shares of Tilray by 75.9% in the 4th quarter. KBC Group NV now owns 38,332 shares of the company’s stock valued at $51,000 after buying an additional 16,539 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.