Tilray (NASDAQ:TLRY) Stock Price Down 0.8% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report) was down 0.8% on Wednesday . The company traded as low as $0.64 and last traded at $0.65. Approximately 2,809,920 shares traded hands during trading, a decline of 91% from the average daily volume of 30,269,809 shares. The stock had previously closed at $0.65.

Analyst Upgrades and Downgrades

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

Tilray Stock Down 4.1 %

The company has a market cap of $586.03 million, a price-to-earnings ratio of -2.09 and a beta of 1.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The business has a 50-day simple moving average of $0.82 and a 200-day simple moving average of $1.24.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to analysts' expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray's revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

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Institutional Trading of Tilray

Institutional investors have recently bought and sold shares of the business. Lido Advisors LLC purchased a new position in shares of Tilray in the 4th quarter valued at about $28,000. Verdence Capital Advisors LLC purchased a new position in Tilray in the fourth quarter valued at approximately $29,000. Dudley Capital Management LLC acquired a new stake in Tilray during the fourth quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tilray during the 4th quarter worth approximately $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its position in shares of Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after buying an additional 10,000 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.