Tilray (NASDAQ:TLRY) Sets New 52-Week Low – Here’s Why

Tilray Inc (NASDAQ:TLRY) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $0.58 and last traded at $0.62, with a volume of 36983644 shares trading hands. The stock had previously closed at $0.59.

Analyst Ratings Changes

Separately, 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 note 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Up 4.8 %

The stock has a market cap of $633.57 million, a PE ratio of -2.25 and a beta of 2.13. The firm has a fifty day moving average of $0.95 and a 200 day moving average of $1.32. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

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). The business had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently made changes to their positions in TLRY. Lido Advisors LLC purchased a new position in shares of Tilray during the fourth quarter worth about $28,000. Verdence Capital Advisors LLC purchased a new position in shares of Tilray during the fourth quarter worth about $29,000. Dudley Capital Management LLC purchased a new position in shares of Tilray during the fourth quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new position in shares of Tilray during the fourth quarter worth about $32,000. Finally, Newman Dignan & Sheerar Inc. grew its holdings in shares of Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other 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.