Tilray (NASDAQ:TLRY) Stock Price Down 5.1% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price fell 5.1% during trading on Thursday . The stock traded as low as $0.61 and last traded at $0.62. 5,104,072 shares changed hands during trading, a decline of 83% from the average session volume of 30,147,025 shares. The stock had previously closed at $0.65.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th.

Tilray Stock Performance

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 cap of $543.18 million, a PE ratio of -1.93 and a beta of 1.88. The business has a fifty day simple moving average of $0.80 and a two-hundred day simple moving average of $1.22.

Tilray (NASDAQ:TLRY - Get Free Report) last released 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 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 the consensus estimate of $216.34 million. Tilray's revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in TLRY. Point72 Asset Management L.P. purchased a new stake in Tilray in the third quarter valued at about $1,348,000. Atria Wealth Solutions Inc. boosted its stake in Tilray by 174.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock worth $112,000 after purchasing an additional 53,751 shares in the last quarter. Arizona State Retirement System grew its position in Tilray by 9.9% during the 4th quarter. Arizona State Retirement System now owns 261,233 shares of the company's stock worth $347,000 after purchasing an additional 23,439 shares during the last quarter. Swiss National Bank increased its stake in Tilray by 10.2% during the 4th quarter. Swiss National Bank now owns 1,776,638 shares of the company's stock valued at $2,363,000 after purchasing an additional 164,600 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company's stock worth $359,000 after buying an additional 174,997 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company's stock.

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.