Tilray (NASDAQ:TLRY) Stock Price Down 0.1% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares traded down 0.1% on Wednesday . The company traded as low as $0.91 and last traded at $0.94. 10,982,730 shares were traded during mid-day trading, a decline of 77% from the average session volume of 47,726,137 shares. The stock had previously closed at $0.94.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their target price on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $2.70.

Tilray Price Performance

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The business's 50-day simple moving average is $1.20 and its 200 day simple moving average is $1.49. The firm has a market capitalization of $874.65 million, a P/E ratio of -3.11 and a beta of 2.07.

Tilray (NASDAQ:TLRY - Get Free Report) last issued 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 net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The company's quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Tilray in the third quarter worth approximately $1,348,000. Creative Planning lifted its stake in Tilray by 36.6% in the third quarter. Creative Planning now owns 141,921 shares of the company's stock worth $250,000 after acquiring an additional 38,054 shares during the period. Barclays PLC lifted its stake in Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company's stock worth $359,000 after acquiring an additional 174,997 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock worth $42,000 after acquiring an additional 18,208 shares during the period. 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.