Tilray (NASDAQ:TLRY) Stock Price Down 0.5% - Here's What Happened

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) were down 0.5% on Friday . The stock traded as low as $0.93 and last traded at $0.94. Approximately 10,608,004 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 46,916,145 shares. The stock had previously closed at $0.94.

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

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 firm has a fifty day moving average price of $1.18 and a two-hundred day moving average price of $1.47. The stock has a market capitalization of $819.23 million, a PE ratio of -2.91 and a beta of 2.07.

Tilray (NASDAQ:TLRY - Get Free Report) last announced 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). The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm's revenue was up 8.7% on a year-over-year basis. Research analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

A number of institutional investors have recently made changes to their positions in TLRY. Toronto Dominion Bank raised its stake in shares of Tilray by 53.0% during the 4th quarter. Toronto Dominion Bank now owns 197,207 shares of the company's stock valued at $260,000 after buying an additional 68,284 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tilray by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after acquiring an additional 286,481 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Tilray by 81.7% in the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company's stock valued at $219,000 after acquiring an additional 74,100 shares during the last quarter. Tidal Investments LLC raised its position in Tilray by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after purchasing an additional 889,086 shares during the period. Finally, State of Wyoming increased its holdings in Tilray by 78.0% in the fourth quarter. State of Wyoming now owns 103,489 shares of the company's stock valued at $138,000 after buying an additional 45,361 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

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.