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

Tilray Inc (NASDAQ:TLRY) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $0.58 and last traded at $0.62, with a volume of 36983644 shares. The stock had previously closed at $0.59.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.70.

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 stock has a market cap of $633.57 million, a price-to-earnings ratio of -2.25 and a beta of 2.13. The stock’s 50-day moving average is $0.95 and its 200 day moving average is $1.32.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently added to or reduced their stakes in TLRY. BNP Paribas Financial Markets lifted its position in shares of Tilray by 1,314.1% during 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 period. Tidal Investments LLC lifted its position in shares of Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after acquiring an additional 889,086 shares during the period. Quinn Opportunity Partners LLC lifted its position in shares of Tilray by 108.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock valued at $2,152,000 after acquiring an additional 840,000 shares during the period. Virtu Financial LLC acquired a new stake in shares of Tilray during the 4th quarter valued at approximately $1,029,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after acquiring an additional 769,569 shares during the period. Institutional investors and hedge funds 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.