Tilray (NASDAQ:TLRY) Stock Price Down 3.7% – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) fell 3.7% during mid-day trading on Thursday . The stock traded as low as $0.91 and last traded at $0.91. 16,658,641 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 47,119,441 shares. The stock had previously closed at $0.95.

Analyst Ratings Changes

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

Tilray Price Performance

The stock has a market capitalization of $874.65 million, a PE ratio of -3.11 and a beta of 2.07. The firm’s fifty day moving average price is $1.20 and its two-hundred day moving average price is $1.50. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The company had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TLRY. BNP Paribas Financial Markets boosted its holdings in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake 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 worth $2,152,000 after acquiring an additional 840,000 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Tilray during the 4th quarter valued at $1,029,000. Dimensional Fund Advisors LP increased its stake in shares of Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after purchasing an additional 769,569 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Tilray in the 3rd quarter worth $1,348,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.