Tilray (NASDAQ:TLRY) Hits New 1-Year Low - Here's Why

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $0.97 and last traded at $0.99, with a volume of 7855432 shares changing hands. The stock had previously closed at $1.00.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price target 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 given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.70.

Tilray Trading Down 0.6 %

The stock has a market capitalization of $885.15 million, a P/E ratio of -3.15 and a beta of 2.07. The firm's 50 day simple moving average is $1.22 and its two-hundred day simple moving average is $1.51. 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 quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The company's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton acquired 26,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray in the 3rd quarter valued at about $26,000. Verdence Capital Advisors LLC purchased a new position in shares of Tilray in the fourth quarter valued at $29,000. Dudley Capital Management LLC bought a new position in Tilray in the 4th quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tilray in the fourth quarter worth about $32,000. Finally, Newman Dignan & Sheerar Inc. grew its position in Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after acquiring an additional 10,000 shares in 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.