Tilray (NASDAQ:TLRY) Shares Down 5.2% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s share price fell 5.2% during mid-day trading on Friday . The company traded as low as $0.68 and last traded at $0.68. 6,067,335 shares were traded during mid-day trading, a decline of 80% from the average session volume of 30,526,634 shares. The stock had previously closed at $0.71.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tilray currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $621.38 million, a price-to-earnings ratio of -2.21 and a beta of 2.13. The stock has a fifty day moving average of $0.85 and a two-hundred day moving average of $1.26.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in TLRY. California State Teachers Retirement System grew its position in Tilray by 8.0% in the 4th quarter. California State Teachers Retirement System now owns 778,513 shares of the company’s stock valued at $1,035,000 after purchasing an additional 57,544 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tilray by 317.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,326 shares of the company’s stock worth $221,000 after buying an additional 126,507 shares during the last quarter. Toronto Dominion Bank grew its position in Tilray by 53.0% during the fourth 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 lifted its position 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 during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Tilray by 81.7% in the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock valued at $219,000 after acquiring an additional 74,100 shares during the period. 9.35% of the stock is currently owned by institutional investors.

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.