Tilray (NASDAQ:TLRY) Stock Price Down 0.5% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price fell 0.5% during mid-day trading on Friday . The stock traded as low as $0.93 and last traded at $0.94. 10,608,004 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 46,916,145 shares. The stock had previously closed at $0.94.

Analyst Upgrades and Downgrades

Separately, 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

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 fifty day moving average price is $1.20 and its 200 day moving average price is $1.49.

Tilray (NASDAQ:TLRY) last posted its quarterly 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 net margin of 30.95% and a negative return on equity of 4.40%. The business 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. Research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

Large investors have recently modified their holdings of the business. Raffles Associates LP bought a new position in shares of Tilray during the 4th quarter worth approximately $332,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Tilray by 68.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company’s stock worth $47,000 after acquiring an additional 14,221 shares in the last quarter. Lido Advisors LLC bought a new position in shares of Tilray during the 4th quarter worth approximately $28,000. The Manufacturers Life Insurance Company raised its stake in shares of Tilray by 9.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 786,874 shares of the company’s stock worth $1,042,000 after acquiring an additional 71,202 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Tilray during the 4th quarter worth approximately $47,000. Institutional investors own 9.35% of the company’s stock.

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.