Tilray (NASDAQ:TLRY) Trading Down 0.3% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) traded down 0.3% during mid-day trading on Friday . The company traded as low as $0.66 and last traded at $0.67. 10,925,776 shares were traded during trading, a decline of 76% from the average session volume of 44,870,711 shares. The stock had previously closed at $0.68.

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

The company has a market cap of $650.45 million, a PE ratio of -2.31 and a beta of 2.13. The company’s fifty day moving average price is $1.05 and its 200 day moving average price is $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 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 firm had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray in the 3rd quarter worth about $26,000. Lido Advisors LLC purchased a new position in Tilray in the fourth quarter valued at about $28,000. Verdence Capital Advisors LLC bought a new position in shares of Tilray during the 4th quarter valued at approximately $29,000. Dudley Capital Management LLC purchased a new stake in shares of Tilray during the 4th quarter worth approximately $29,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Tilray in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors 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.