Tilray (NASDAQ:TLRY) Hits New 12-Month Low – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $1.13 and last traded at $1.15, with a volume of 7493427 shares traded. The stock had previously closed at $1.17.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TLRY. Roth Mkm dropped their target price on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th. Canaccord Genuity Group boosted 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Down 0.9 %

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 fifty day moving average price of $1.31 and a 200-day moving average price of $1.59.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (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 during the quarter, compared to analysts’ expectations of $216.34 million. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Tilray during the 3rd quarter valued at $1,348,000. Bank of Montreal Can lifted its stake in shares of Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares during the last quarter. XTX Topco Ltd boosted its holdings in Tilray by 1,079.7% in the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares in the last quarter. Finally, Barclays PLC increased its position in Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after buying an additional 174,997 shares during the last quarter. 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.