Tilray (NASDAQ:TLRY) Reaches New 1-Year Low - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $0.58 and last traded at $0.62, with a volume of 36983644 shares changing hands. The stock had previously closed at $0.59.

Wall Street Analyst Weigh In

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 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. According to data from MarketBeat.com, Tilray has an average rating of "Hold" and an average price target of $2.70.

Tilray Price Performance

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $0.93 and a 200 day simple moving average of $1.31. The stock has a market cap of $608.07 million, a P/E ratio of -2.16 and a beta of 2.13.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). The business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Tilray's revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Tilray

Several hedge funds have recently modified their holdings of TLRY. Lido Advisors LLC bought a new stake in Tilray during the fourth quarter worth about $28,000. Verdence Capital Advisors LLC bought a new stake in shares of Tilray during the 4th quarter worth approximately $29,000. Dudley Capital Management LLC acquired a new position in Tilray during the fourth quarter worth $29,000. Ameritas Advisory Services LLC bought a new stake in Tilray during the fourth quarter worth $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its stake in Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock valued at $35,000 after acquiring an additional 10,000 shares during the last quarter. 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.