Tilray (NASDAQ:TLRY) Stock Price Down 3.3% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price dropped 3.3% during trading on Monday . The company traded as low as $0.44 and last traded at $0.44. Approximately 8,674,650 shares traded hands during trading, a decline of 70% from the average daily volume of 28,561,329 shares. The stock had previously closed at $0.46.

Analysts Set New Price Targets

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

Tilray Trading Down 3.3 %

The company has a market cap of $442.86 million, a price-to-earnings ratio of -1.46 and a beta of 1.95. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $0.59 and its two-hundred day simple moving average is $1.04.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) 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 company had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. On average, equities analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of 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 last quarter. Atria Wealth Solutions Inc. increased its stake in Tilray by 174.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock valued at $112,000 after purchasing an additional 53,751 shares in the last quarter. Quinn Opportunity Partners LLC raised 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 buying an additional 840,000 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Tilray during the fourth quarter worth about $255,000. Finally, Arizona State Retirement System lifted its stake in Tilray by 9.9% in the 4th quarter. Arizona State Retirement System now owns 261,233 shares of the company's stock valued at $347,000 after buying an additional 23,439 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.

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