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

Tilray Inc (NASDAQ:TLRY)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $0.71 and last traded at $0.72, with a volume of 6672688 shares changing hands. The stock had previously closed at $0.74.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their target price on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.70.

Tilray Stock Performance

The stock has a 50 day moving average price of $1.13 and a two-hundred day moving average price of $1.42. 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 company has a market capitalization of $668.55 million, a price-to-earnings ratio of -2.37 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share 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 company had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. The business’s revenue was up 8.7% on a year-over-year basis. On average, analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TLRY. Toronto Dominion Bank lifted its stake in shares of Tilray by 53.0% during the fourth quarter. Toronto Dominion Bank now owns 197,207 shares of the company’s stock valued at $260,000 after acquiring an additional 68,284 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tilray by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock worth $2,613,000 after purchasing an additional 286,481 shares during the last quarter. Two Sigma Advisers LP lifted its position in Tilray by 81.7% during the 4th quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock valued at $219,000 after purchasing an additional 74,100 shares during the period. Tidal Investments LLC boosted its stake in shares of Tilray by 9.2% in the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Finally, State of Wyoming raised 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 buying an additional 45,361 shares during 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.