Tilray Inc (NASDAQ:TLRY - Get Free Report) shares dropped 3.4% on Wednesday . The stock traded as low as $0.86 and last traded at $0.86. Approximately 19,205,518 shares were traded during trading, a decline of 59% from the average daily volume of 46,742,723 shares. The stock had previously closed at $0.89.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group lifted their price objective on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.70.
Check Out Our Latest Stock Analysis on Tilray
Tilray Stock Up 9.7 %
The stock has a market capitalization of $892.18 million, a PE ratio of -3.17 and a beta of 2.07. The stock's fifty day simple moving average is $1.17 and its 200-day simple moving average is $1.47. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.
Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share 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 during the quarter, compared to analysts' expectations of $216.34 million. Tilray's quarterly revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.
Institutional Investors Weigh In On Tilray
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Tilray in the third quarter worth about $1,348,000. Creative Planning increased its holdings in shares of Tilray by 36.6% in the third quarter. Creative Planning now owns 141,921 shares of the company's stock worth $250,000 after buying an additional 38,054 shares during the period. Barclays PLC increased its stake in Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company's stock worth $359,000 after purchasing an additional 174,997 shares during the period. Finally, International Assets Investment Management LLC increased its stake in 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 purchasing an additional 18,208 shares during the period. Hedge funds and other institutional investors own 9.35% of the company's stock.
About Tilray
(
Get Free Report)
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.
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