Tilray (NASDAQ:TLRY) Reaches New 1-Year Low - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.31 and last traded at $1.32, with a volume of 892026 shares traded. The stock had previously closed at $1.35.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their price objective on Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a research report on Friday, October 11th.

Tilray Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The company has a 50-day moving average price of $1.65 and a 200 day moving average price of $1.76. The firm has a market capitalization of $1.19 billion, a PE ratio of -4.87 and a beta of 2.14.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $200.00 million for the quarter, compared to analysts' expectations of $218.70 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. Analysts forecast that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Transactions at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.87% of the company's stock.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank boosted its position in Tilray by 3.6% in the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company's stock valued at $3,683,000 after buying an additional 51,700 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Tilray by 46.2% in the first quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company's stock valued at $131,000 after purchasing an additional 16,792 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company's stock valued at $8,707,000 after buying an additional 117,891 shares during the period. CreativeOne Wealth LLC purchased a new position in shares of Tilray during the first quarter valued at approximately $165,000. Finally, Lazard Asset Management LLC acquired a new position in Tilray during the first quarter worth approximately $118,000. 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.