Tilray (NASDAQ:TLRY) Stock Price Down 3.6% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) fell 3.6% during trading on Monday . The company traded as low as $0.67 and last traded at $0.67. 6,278,259 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 44,732,500 shares. The stock had previously closed at $0.69.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Performance

The company has a market cap of $610.04 million, a PE ratio of -2.17 and a beta of 2.13. The stock has a 50 day simple moving average of $1.05 and a two-hundred day simple moving average of $1.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning increased its holdings in shares of Tilray by 36.6% in the third quarter. Creative Planning now owns 141,921 shares of the company’s stock valued at $250,000 after purchasing an additional 38,054 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after buying an additional 7,339 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Tilray in the 3rd quarter worth $110,000. Apollon Wealth Management LLC purchased a new stake in shares of Tilray in the third quarter valued at about $63,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray during the third quarter worth about $26,000. 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.