Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price dropped 6.9% on Monday . The company traded as low as $0.46 and last traded at $0.46. Approximately 7,461,491 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 28,119,215 shares. The stock had previously closed at $0.50.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Piper Sandler dropped their price objective on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a report on Monday, April 14th.
Check Out Our Latest Report on Tilray
Tilray Price Performance
The company has a market cap of $445.27 million, a price-to-earnings ratio of -1.47 and a beta of 1.95. The company has a 50-day simple moving average of $0.52 and a 200-day simple moving average of $0.92. 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 - Get Free Report) last posted 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 net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $185.78 million during the quarter, compared to analysts' expectations of $213.38 million. As a group, research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.
Institutional Investors Weigh In On Tilray
Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after purchasing an additional 769,569 shares in the last quarter. JPMorgan Chase & Co. grew its position in Tilray by 112.7% during the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after buying an additional 487,051 shares during the period. Raymond James Financial Inc. purchased a new position in Tilray in the fourth quarter valued at about $255,000. Atria Wealth Solutions Inc. lifted its position in shares of Tilray by 174.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock valued at $112,000 after acquiring an additional 53,751 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after acquiring an additional 889,086 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.
About Tilray
(
Get Free Report)
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.
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