Tilray (NASDAQ:TLRY) Trading Down 2.4% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 2.4% during trading on Friday . The stock traded as low as $0.74 and last traded at $0.74. 9,635,211 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 45,825,211 shares. The stock had previously closed at $0.76.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Tilray has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Down 3.3 %

The stock has a 50 day moving average price of $1.13 and a 200 day moving average price of $1.43. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $689.18 million, a price-to-earnings ratio of -2.45 and a beta of 2.07.

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

Institutional Trading of Tilray

Institutional investors have recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. bought a new position in Tilray during the 3rd quarter worth $26,000. Lido Advisors LLC acquired a new stake in shares of Tilray in the fourth quarter valued at about $28,000. Dudley Capital Management LLC bought a new position in shares of Tilray during the fourth quarter worth about $29,000. Verdence Capital Advisors LLC bought a new stake in Tilray in the fourth quarter valued at approximately $29,000. Finally, International Assets Investment Management LLC boosted its holdings in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after acquiring an additional 18,208 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

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.