Tilray (NASDAQ:TLRY) Reaches New 12-Month Low – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $0.97 and last traded at $0.99, with a volume of 7855432 shares trading hands. The stock had previously closed at $1.00.

Wall Street Analyst Weigh In

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

Tilray Stock Down 5.0 %

The stock has a market cap of $890.78 million, a price-to-earnings ratio of -3.20 and a beta of 2.07. 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 firm’s 50-day moving average is $1.24 and its 200 day moving average is $1.52.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tilray

Several hedge funds have recently modified their holdings of TLRY. Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray in the 3rd quarter valued at approximately $26,000. Verdence Capital Advisors LLC acquired a new position in shares of Tilray in the fourth quarter valued at $29,000. International Assets Investment Management LLC boosted its stake in Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. bought a new stake in Tilray in the 3rd quarter valued at $42,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Tilray in the 4th quarter valued at $32,000. 9.35% of the stock is owned by hedge funds and other 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.