Tilray (NASDAQ:TLRY) Shares Down 2.5% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares were down 2.5% during trading on Thursday . The company traded as low as $0.84 and last traded at $0.85. Approximately 10,613,839 shares were traded during trading, a decline of 77% from the average daily volume of 46,799,211 shares. The stock had previously closed at $0.87.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $2.70.

Tilray Stock Performance

The stock has a market capitalization of $892.18 million, a P/E ratio of -3.17 and a beta of 2.07. The stock has a 50 day moving average of $1.17 and a 200 day moving average of $1.46. 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 issued 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). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The business's quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its position in Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after acquiring an additional 1,690,827 shares during the period. Point72 Asset Management L.P. acquired a new position in Tilray during the 3rd quarter worth $1,348,000. Creative Planning boosted its position in Tilray by 36.6% during the 3rd 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 boosted its position in Tilray by 600.4% during the 3rd 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 boosted its position in Tilray by 335.3% during the 3rd 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 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.