Tilray (NASDAQ:TLRY) Stock Price Down 3.9% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) were down 3.9% during mid-day trading on Monday . The stock traded as low as $0.54 and last traded at $0.57. Approximately 9,992,618 shares were traded during trading, a decline of 66% from the average daily volume of 29,639,823 shares. The stock had previously closed at $0.59.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their target price on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th.

Tilray Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The company has a market capitalization of $543.18 million, a PE ratio of -1.93 and a beta of 1.88. The company’s 50-day simple moving average is $0.79 and its 200-day simple moving average is $1.21.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 company had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in Tilray by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 715,672 shares of the company’s stock worth $1,260,000 after buying an additional 33,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tilray by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after acquiring an additional 107,530 shares during the period. Point72 Asset Management L.P. purchased a new position in Tilray during the third quarter worth about $1,348,000. State Street Corp lifted its position in Tilray by 4.7% in the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after purchasing an additional 88,079 shares during the period. Finally, XTX Topco Ltd boosted its holdings in Tilray by 1,079.7% in the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after purchasing an additional 257,641 shares in the last quarter. 9.35% of the stock is currently 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.