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

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

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price target on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a 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 company's stock. According to data from MarketBeat.com, Tilray has a consensus rating of "Hold" and an average price target of $2.70.

Tilray Stock Performance

The stock's fifty day moving average is $1.20 and its two-hundred day moving average is $1.49. The firm has a market capitalization of $874.65 million, a price-to-earnings ratio of -3.11 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share 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 analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Tilray's quarterly revenue was up 8.7% on a year-over-year basis. Analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray during the 3rd quarter worth $26,000. Lido Advisors LLC bought a new position in shares of Tilray in the 4th quarter worth about $28,000. Dudley Capital Management LLC bought a new position in shares of Tilray in the 4th quarter worth about $29,000. Verdence Capital Advisors LLC bought a new position in shares of Tilray in the 4th quarter worth about $29,000. Finally, International Assets Investment Management LLC lifted its position in shares of Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock worth $42,000 after buying an additional 18,208 shares during the last quarter. 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.