Tilray (NASDAQ:TLRY) Trading Down 2.8% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares dropped 2.8% during mid-day trading on Friday . The company traded as low as $0.47 and last traded at $0.47. Approximately 7,153,974 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 28,626,818 shares. The stock had previously closed at $0.49.

Wall Street Analysts Forecast Growth

TLRY has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Roth Capital reiterated a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Finally, Canaccord Genuity Group boosted their price target on 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 current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market cap of $437.83 million, a PE ratio of -1.45 and a beta of 1.95. The business's 50 day moving average is $0.58 and its two-hundred day moving average is $1.03.

Tilray (NASDAQ:TLRY - Get Free Report) last released its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $213.38 million. On average, equities research analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray

Institutional investors have recently bought and sold shares of the stock. Newman Dignan & Sheerar Inc. grew its holdings in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock valued at $35,000 after purchasing an additional 10,000 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Tilray by 55.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after buying an additional 11,325 shares in the last quarter. NewEdge Advisors LLC increased its position in Tilray by 92.1% during the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after purchasing an additional 13,136 shares during the period. TD Waterhouse Canada Inc. increased its holdings in Tilray by 59.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock valued at $49,000 after buying an additional 13,786 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Tilray by 68.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock valued at $47,000 after acquiring an additional 14,221 shares during the period. 9.35% of the stock is owned by hedge funds and other 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.