Tilray (NASDAQ:TLRY) Sets New 1-Year Low – Here’s Why

Tilray Inc (NASDAQ:TLRY) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.31 and last traded at $1.32, with a volume of 892026 shares traded. The stock had previously closed at $1.35.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Tilray Stock Down 2.6 %

The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average price is $1.65 and its two-hundred day moving average price is $1.76. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.87 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Tilray in the 1st quarter valued at about $118,000. Avantax Advisory Services Inc. grew its stake in Tilray by 46.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company’s stock valued at $131,000 after buying an additional 16,792 shares during the last quarter. Creative Planning raised its holdings 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 period. Finally, The Manufacturers Life Insurance Company lifted its position in Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after acquiring an additional 70,605 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

About Tilray

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.