Tilray (NASDAQ:TLRY) Trading Down 3.7% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price was down 3.7% on Monday . The company traded as low as $0.37 and last traded at $0.41. Approximately 13,826,480 shares traded hands during trading, a decline of 51% from the average daily volume of 28,337,311 shares. The stock had previously closed at $0.43.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TLRY shares. Piper Sandler decreased their price target on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Roth Capital reiterated a "neutral" rating on shares of Tilray in a research note on Monday, April 14th.

Tilray Stock Performance

The stock has a market cap of $390.72 million, a price-to-earnings ratio of -1.29 and a beta of 1.95. The stock's 50 day moving average is $0.48 and its two-hundred day moving average is $0.87. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

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. Analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in shares of Tilray by 9.2% in the 4th 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 in the last quarter. Bank of Montreal Can increased its holdings in shares of Tilray by 14.4% in the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after purchasing an additional 312,476 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tilray by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock valued at $3,200,000 after purchasing an additional 403,371 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after acquiring an additional 769,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tilray by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after acquiring an additional 286,481 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

Tilray Company Profile

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.