Tilray (NASDAQ:TLRY) Shares Down 0.5% – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) were down 0.5% during trading on Friday . The stock traded as low as $0.93 and last traded at $0.94. Approximately 10,608,004 shares changed hands during trading, a decline of 77% from the average daily volume of 46,916,145 shares. The stock had previously closed at $0.94.

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

The company’s 50-day moving average price is $1.20 and its 200 day moving average price is $1.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data 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 return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

A number of large investors have recently made changes to their positions in TLRY. BNP Paribas Financial Markets boosted its stake in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the period. 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 purchasing an additional 840,000 shares during the period. Virtu Financial LLC purchased a new position in shares of Tilray during the 4th quarter worth about $1,029,000. Dimensional Fund Advisors LP boosted its stake in shares of Tilray by 54.8% during 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 during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Tilray during the 3rd quarter worth about $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.