Tilray (NASDAQ:TLRY) Reaches New 12-Month Low - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price hit a new 52-week low on Tuesday . The stock traded as low as $0.63 and last traded at $0.65, with a volume of 23750696 shares. The stock had previously closed at $0.69.

Wall Street Analyst Weigh In

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

Tilray Stock Performance

The company has a 50 day moving average of $0.99 and a two-hundred day moving average of $1.35. The company has a market capitalization of $571.88 million, a PE ratio of -2.03 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY - Get Free Report) last issued 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). 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%. The company's revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

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Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank boosted its position 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 buying an additional 68,284 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tilray by 17.1% in 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 buying an additional 286,481 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Tilray by 81.7% in the 4th quarter. Two Sigma Advisers LP now owns 164,800 shares of the company's stock worth $219,000 after purchasing an additional 74,100 shares in the last quarter. Tidal Investments LLC grew its stake in shares of 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 acquiring an additional 889,086 shares during the last quarter. Finally, State of Wyoming grew its holdings in shares of Tilray by 78.0% during the fourth quarter. State of Wyoming now owns 103,489 shares of the company's stock valued at $138,000 after buying an additional 45,361 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.