Tilray (NASDAQ:TLRY) Hits New 52-Week Low – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price reached a new 52-week low on Friday . The company traded as low as $1.15 and last traded at $1.16, with a volume of 25338252 shares changing hands. The stock had previously closed at $1.16.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th.

Tilray Stock Performance

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 stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.30 and a beta of 2.08. The business has a 50 day simple moving average of $1.45 and a 200-day simple moving average of $1.66.

Tilray (NASDAQ:TLRY) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. During the same period last year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is owned by company insiders.

Institutional Trading of Tilray

A number of institutional investors have recently modified their holdings of TLRY. Signature Estate & Investment Advisors LLC acquired a new position in Tilray during the second quarter valued at approximately $29,000. CIBC Asset Management Inc lifted its holdings in shares of Tilray by 13.3% during the 2nd quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock valued at $1,445,000 after acquiring an additional 102,316 shares in the last quarter. TD Asset Management Inc boosted its position in Tilray by 8.1% during the 2nd quarter. TD Asset Management Inc now owns 1,373,045 shares of the company’s stock worth $2,278,000 after purchasing an additional 103,207 shares during the period. CapWealth Advisors LLC increased its holdings in Tilray by 21.1% in the 2nd quarter. CapWealth Advisors LLC now owns 108,960 shares of the company’s stock valued at $181,000 after purchasing an additional 18,960 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after purchasing an additional 9,171 shares during the period. Hedge funds and other 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.