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

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) were down 1% during trading on Tuesday . The stock traded as low as $0.43 and last traded at $0.44. Approximately 3,715,930 shares changed hands during trading, a decline of 87% from the average daily volume of 28,504,874 shares. The stock had previously closed at $0.44.

Analyst Ratings Changes

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

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The stock has a market cap of $443.86 million, a P/E ratio of -1.47 and a beta of 1.95. The company has a fifty day moving average price of $0.57 and a 200 day moving average price of $1.03.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $185.78 million for the quarter, compared to analysts' expectations of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. On average, equities analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tilray by 49.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,189 shares of the company's stock valued at $111,000 after buying an additional 55,981 shares in the last quarter. TD Asset Management Inc raised its stake in Tilray by 6.5% during the first quarter. TD Asset Management Inc now owns 1,627,247 shares of the company's stock worth $1,063,000 after purchasing an additional 100,017 shares during the period. MCF Advisors LLC purchased a new position in shares of Tilray in the 1st quarter valued at $132,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Tilray by 1,646.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 154,636 shares of the company's stock worth $102,000 after buying an additional 145,780 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Tilray by 17.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 276,332 shares of the company's stock worth $182,000 after purchasing an additional 40,679 shares during the last quarter. 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.