Tilray (NASDAQ:TLRY) Shares Down 1.1% - What's Next?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) dropped 1.1% on Monday . The stock traded as low as $0.93 and last traded at $0.93. Approximately 26,009,440 shares changed hands during trading, a decline of 41% from the average daily volume of 44,451,032 shares. The stock had previously closed at $0.94.

Analyst Ratings Changes

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 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $2.70.

Tilray Stock Down 0.7 %

The firm has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $1.47. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company has a market capitalization of $813.60 million, a price-to-earnings ratio of -2.89 and a beta of 2.07.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray's revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its position in Tilray by 53.0% during 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tilray by 17.1% during 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 during the last quarter. Two Sigma Advisers LP lifted its position 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 buying an additional 74,100 shares during the last quarter. Tidal Investments LLC lifted its position 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 buying an additional 889,086 shares during the last quarter. Finally, State of Wyoming lifted its position 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 buying an additional 45,361 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.