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

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $1.28 and last traded at $1.30, with a volume of 1868774 shares changing hands. The stock had previously closed at $1.30.

Wall Street Analyst Weigh In

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

Tilray Price Performance

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 stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -4.77 and a beta of 2.08. The stock's 50 day simple moving average is $1.55 and its 200-day simple moving average is $1.71.

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

Insider Activity

In other news, CFO Carl A. Merton bought 26,000 shares of the business's stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Tilray by 3.5% in the 1st 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 last quarter. Bank of Montreal Can grew its stake in shares of Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock worth $3,787,000 after acquiring an additional 7,406 shares during the last quarter. State Street Corp grew its stake in shares of Tilray by 4.7% in the third quarter. State Street Corp now owns 1,961,338 shares of the company's stock worth $3,452,000 after acquiring an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets increased 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 worth $3,202,000 after acquiring an additional 1,690,827 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tilray by 6.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company's stock valued at $2,953,000 after purchasing an additional 107,530 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray

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.

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