Tilray (NASDAQ:TLRY) Trading Down 11.3% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares traded down 11.3% on Monday . The stock traded as low as $0.84 and last traded at $0.84. 16,648,043 shares changed hands during trading, a decline of 65% from the average session volume of 47,600,801 shares. The stock had previously closed at $0.95.

Analyst Ratings Changes

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

Tilray Trading Down 3.3 %

The firm has a market capitalization of $689.18 million, a P/E ratio of -2.45 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. The firm has a 50 day moving average price of $1.13 and a two-hundred day moving average price of $1.43.

Tilray (NASDAQ:TLRY - Get Free Report) last released its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). The business 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%. The business's quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

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Institutional Trading of Tilray

A number of hedge funds have recently modified their holdings of the business. Toronto Dominion Bank lifted its holdings in shares of Tilray by 53.0% in the fourth quarter. Toronto Dominion Bank now owns 197,207 shares of the company's stock valued at $260,000 after purchasing an additional 68,284 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 purchasing an additional 286,481 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of 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 purchasing an additional 74,100 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of 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 in the last quarter. Finally, State of Wyoming lifted its holdings in shares of 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 purchasing an additional 45,361 shares in the last quarter. Hedge funds and other institutional investors 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.