Tilray (NASDAQ:TLRY) Hits New 12-Month Low – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $1.09 and last traded at $1.10, with a volume of 34362123 shares. The stock had previously closed at $1.14.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Roth Mkm cut their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group increased their price objective on 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Price Performance

The company has a market cap of $1.03 billion, a P/E ratio of -3.65 and a beta of 2.08. The stock has a 50-day simple moving average of $1.30 and a 200 day simple moving average of $1.58. 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 issued its earnings results on Friday, January 10th. The company reported ($0.10) EPS 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 analyst estimates of $216.34 million. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Insider Transactions at Tilray

In related news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by insiders.

Institutional Trading of Tilray

A number of large investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in shares of Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares in the last quarter. State Street Corp lifted its holdings in Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after purchasing an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets boosted its position 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 valued at $3,202,000 after buying an additional 1,690,827 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tilray by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after buying an additional 107,530 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Tilray by 2.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock worth $2,617,000 after buying an additional 37,300 shares in the last quarter. 9.35% of the stock is currently owned by 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.