Tilray Inc (NASDAQ:TLRY - Get Free Report) shares fell 3.2% during mid-day trading on Wednesday . The stock traded as low as $0.66 and last traded at $0.67. 9,847,430 shares changed hands during trading, a decline of 78% from the average session volume of 45,104,617 shares. The stock had previously closed at $0.69.
Analysts Set New Price Targets
Separately, Canaccord Genuity Group increased their price target on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $2.70.
Read Our Latest Research Report on Tilray
Tilray Stock Up 2.6 %
The company has a fifty day moving average of $1.05 and a two-hundred day moving average of $1.38. The company has a market cap of $650.45 million, a PE ratio of -2.31 and a beta of 2.13. 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 released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share 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 analysts' expectations of $216.34 million. The business's revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Tilray
Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock valued at $3,202,000 after acquiring an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Tilray in the 3rd quarter valued at $1,348,000. Atria Wealth Solutions Inc. grew its position in Tilray by 174.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock valued at $112,000 after acquiring an additional 53,751 shares during the last quarter. Creative Planning grew its position in Tilray by 36.6% in the 3rd quarter. Creative Planning now owns 141,921 shares of the company's stock valued at $250,000 after acquiring an additional 38,054 shares during the last quarter. Finally, Barclays PLC grew its position in Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company's stock valued at $359,000 after acquiring an additional 174,997 shares during the last quarter. Institutional investors own 9.35% of the company's stock.
Tilray Company Profile
(
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.
See Also
Before you consider Tilray, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tilray wasn't on the list.
While Tilray currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
