Tilray (NASDAQ:TLRY) Shares Down 1.1% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s share price traded down 1.1% during mid-day trading on Monday . The stock traded as low as $0.93 and last traded at $0.93. 26,009,440 shares changed hands during trading, a decline of 41% from the average session volume of 44,451,032 shares. The stock had previously closed at $0.94.

Wall Street Analysts Forecast Growth

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

Tilray Stock Down 2.3 %

The business has a 50 day moving average of $1.20 and a two-hundred day moving average of $1.48. The stock has a market capitalization of $819.23 million, a PE ratio of -2.91 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

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 during the quarter, compared to the consensus estimate of $216.34 million. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently bought and sold shares of TLRY. Toronto Dominion Bank lifted its holdings in shares of Tilray by 53.0% during the 4th quarter. Toronto Dominion Bank now owns 197,207 shares of the company’s stock valued at $260,000 after purchasing an additional 68,284 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 buying an additional 286,481 shares during the last quarter. Two Sigma Advisers LP raised its stake in 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 buying an additional 74,100 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after acquiring an additional 889,086 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of Tilray by 78.0% during the fourth quarter. State of Wyoming now owns 103,489 shares of the company’s stock worth $138,000 after acquiring an additional 45,361 shares during the last quarter. 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 Canada.