Tilray (NASDAQ:TLRY) Sets New 52-Week Low - What's Next?

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

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their price objective on shares of Tilray from $2.00 to $3.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.70.

Tilray Stock Down 5.9 %

The company has a market cap of $633.67 million, a P/E ratio of -2.25 and a beta of 2.13. The stock has a 50-day moving average of $1.08 and a 200 day moving average of $1.40. 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 posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray's quarterly revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current year.

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Institutional Investors Weigh In On Tilray

Institutional investors have recently added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray in the 3rd quarter valued at about $26,000. Lido Advisors LLC acquired a new position in shares of Tilray in the fourth quarter worth approximately $28,000. Verdence Capital Advisors LLC bought a new stake in Tilray in the fourth quarter valued at approximately $29,000. Dudley Capital Management LLC acquired a new stake in Tilray during the 4th quarter valued at approximately $29,000. Finally, Ameritas Advisory Services LLC bought a new position in Tilray during the 4th quarter worth approximately $32,000. 9.35% of the stock is owned by institutional investors.

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.