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

Tilray Inc (NASDAQ:TLRY - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $1.25 and last traded at $1.25, with a volume of 1596899 shares. The stock had previously closed at $1.28.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their target price on Tilray from $2.00 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, October 11th.

Tilray Trading Down 1.6 %

The company has a 50 day moving average of $1.50 and a 200-day moving average of $1.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -4.67 and a beta of 2.09.

Tilray (NASDAQ:TLRY - Get Free Report) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. During the same period last year, the business posted ($0.10) earnings per share. Tilray's revenue was up 13.0% compared to the same quarter last year. On average, research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares of the company's stock, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray during the 3rd quarter worth $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Tilray in the 2nd quarter valued at about $29,000. Jeppson Wealth Management LLC purchased a new stake in shares of Tilray in the 2nd quarter valued at about $33,000. Pallas Capital Advisors LLC acquired a new stake in shares of Tilray in the 2nd quarter valued at about $37,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in Tilray during the second quarter worth approximately $34,000. Institutional investors and hedge funds 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.