Tilray (NASDAQ:TLRY) Stock Price Down 1% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report) was down 1% during trading on Wednesday . The stock traded as low as $0.46 and last traded at $0.47. Approximately 3,252,707 shares traded hands during trading, a decline of 89% from the average daily volume of 29,310,603 shares. The stock had previously closed at $0.47.

Analyst Ratings Changes

TLRY has been the subject of several research reports. Piper Sandler cut their price target on Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a report on Monday, April 14th. Finally, Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th.

Tilray Stock Performance

The company has a market cap of $421.94 million, a P/E ratio of -1.50 and a beta of 1.88. The stock's 50-day moving average price is $0.67 and its 200-day moving average price is $1.13. 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 - Get Free Report) last announced its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) 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 analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

A number of institutional investors have recently modified their holdings of the stock. Lido Advisors LLC bought a new position in shares of Tilray in the fourth quarter worth $28,000. Verdence Capital Advisors LLC acquired a new stake in Tilray during the fourth quarter worth about $29,000. Dudley Capital Management LLC bought a new position in Tilray in the 4th quarter valued at about $29,000. Ameritas Advisory Services LLC acquired a new position in shares of Tilray in the 4th quarter valued at approximately $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its holdings in shares of Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after acquiring an additional 10,000 shares during the period. 9.35% of the stock is currently owned by institutional investors.

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.