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

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

Analyst Upgrades and Downgrades

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 analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Tilray presently has an average rating of "Hold" and a consensus price target of $2.70.

Tilray Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company's fifty day moving average is $1.20 and its 200-day moving average is $1.49. The stock has a market cap of $874.65 million, a PE ratio of -3.11 and a beta of 2.07.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its 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 business had revenue of $210.90 million for the quarter, compared to analysts' expectations of $216.34 million. Tilray's revenue was up 8.7% compared to the same quarter last year. On average, analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TLRY. Bank of Montreal Can grew its position in Tilray by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after buying an additional 312,476 shares during the period. Geode Capital Management LLC grew its position in Tilray by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock valued at $3,200,000 after buying an additional 403,371 shares during the period. Dimensional Fund Advisors LP grew its position in Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares during the period. State Street Corp grew its position in Tilray by 4.7% during the third quarter. State Street Corp now owns 1,961,338 shares of the company's stock valued at $3,452,000 after buying an additional 88,079 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock valued at $3,202,000 after buying an additional 1,690,827 shares during the period. 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.