Tilray Inc (NASDAQ:TLRY - Get Free Report) shares traded down 2.2% during mid-day trading on Tuesday . The stock traded as low as $0.91 and last traded at $0.91. 16,618,676 shares were traded during mid-day trading, a decline of 64% from the average session volume of 46,338,965 shares. The stock had previously closed at $0.93.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group boosted their price target on Tilray from $2.00 to $3.00 and gave the company 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 given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.70.
Read Our Latest Stock Report on TLRY
Tilray Trading Up 9.7 %
The business has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $1.47. The stock has a market capitalization of $892.18 million, a P/E ratio of -3.17 and a beta of 2.07. 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 released its 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). The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.
Hedge Funds Weigh In On Tilray
A number of institutional investors have recently modified their holdings of TLRY. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray during the 3rd quarter worth $26,000. Lido Advisors LLC acquired a new position in Tilray in the 4th quarter worth about $28,000. Verdence Capital Advisors LLC acquired a new position in Tilray in the 4th quarter worth about $29,000. Dudley Capital Management LLC acquired a new position in Tilray in the 4th quarter worth about $29,000. Finally, Ameritas Advisory Services LLC acquired a new position in Tilray in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 9.35% of the company's stock.
About Tilray
(
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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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