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

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $0.71 and last traded at $0.72, with a volume of 6672688 shares traded. The stock had previously closed at $0.74.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $2.70.

Tilray Trading Up 2.6 %

The stock has a market capitalization of $650.45 million, a price-to-earnings ratio of -2.31 and a beta of 2.13. The company's 50-day moving average is $1.05 and its 200-day moving average is $1.38. 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 - Get Free Report) last announced its earnings results 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). The company had revenue of $210.90 million for the quarter, compared to analysts' expectations of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm's revenue was up 8.7% compared to the same quarter last year. Research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TLRY. BNP Paribas Financial Markets boosted its stake in Tilray by 1,314.1% during 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 period. Tidal Investments LLC boosted its stake in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after buying an additional 889,086 shares during the period. Quinn Opportunity Partners LLC boosted its stake in Tilray by 108.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after buying an additional 840,000 shares during the period. Virtu Financial LLC purchased a new position in Tilray during the fourth quarter worth about $1,029,000. Finally, Dimensional Fund Advisors LP boosted its stake in Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after buying an additional 769,569 shares during the period. Hedge funds and other 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.