Tilray (NASDAQ:TLRY) Reaches New 12-Month Low – Here’s Why

Tilray Inc (NASDAQ:TLRY) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $0.97 and last traded at $0.99, with a volume of 7855432 shares changing hands. The stock had previously closed at $1.00.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised their target price 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Down 4.2 %

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $1.23 and a 200 day moving average price of $1.52.

Tilray (NASDAQ:TLRY) last released 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). The business 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%. Tilray’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Tilray

A number of large investors have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray during the third quarter worth about $26,000. Verdence Capital Advisors LLC purchased a new position in shares of Tilray during the 4th quarter worth approximately $29,000. Dudley Capital Management LLC acquired a new position in shares of Tilray during the 4th quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new stake in Tilray in the 4th quarter valued at approximately $32,000. Finally, Newman Dignan & Sheerar Inc. grew its holdings in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after buying an additional 10,000 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.