Tilray (NASDAQ:TLRY) Trading Down 3.3% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price was down 3.3% during mid-day trading on Monday . The company traded as low as $0.47 and last traded at $0.47. Approximately 6,555,894 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 29,443,533 shares. The stock had previously closed at $0.49.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TLRY shares. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Canaccord Genuity Group increased 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. Finally, Piper Sandler decreased their price objective on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th.

Tilray Stock Down 6.3 %

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $0.59 and a 200-day moving average of $1.06. The stock has a market cap of $458.06 million, a PE ratio of -1.52 and a beta of 1.88.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. Equities research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in shares of Tilray by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after purchasing an additional 889,086 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 acquiring an additional 840,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in Tilray during the fourth quarter worth $1,029,000. Dimensional Fund Advisors LP increased its position in shares of Tilray by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Tilray during the 4th quarter worth $879,000. Institutional investors and hedge funds 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.