Tilray (NASDAQ:TLRY) Shares Down 1.2% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price dropped 1.2% during trading on Thursday . The company traded as low as $0.40 and last traded at $0.40. Approximately 6,976,511 shares were traded during trading, a decline of 76% from the average daily volume of 28,619,661 shares. The stock had previously closed at $0.41.

Wall Street Analyst Weigh In

TLRY has been the topic of a number of recent analyst reports. Roth Capital reiterated a "neutral" rating on shares of Tilray in a report on Monday, April 14th. Piper Sandler dropped their target price on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th.

Tilray Stock Up 4.5%

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 company's fifty day moving average is $0.47 and its 200-day moving average is $0.85. The company has a market cap of $408.23 million, a PE ratio of -1.35 and a beta of 1.83.

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

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently modified their holdings of TLRY. KBC Group NV raised its position in shares of Tilray by 75.9% during the 4th quarter. KBC Group NV now owns 38,332 shares of the company's stock valued at $51,000 after purchasing an additional 16,539 shares during the period. Newman Dignan & Sheerar Inc. raised its position 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 valued at $35,000 after purchasing an additional 10,000 shares during the period. CIBC Asset Management Inc raised its position in shares of Tilray by 11.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,011,740 shares of the company's stock valued at $1,335,000 after purchasing an additional 103,642 shares during the period. Atria Wealth Solutions Inc. raised 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 purchasing an additional 53,751 shares during the period. Finally, Alberta Investment Management Corp raised its position in shares of Tilray by 58.2% during the 4th quarter. Alberta Investment Management Corp now owns 668,800 shares of the company's stock valued at $884,000 after purchasing an additional 246,000 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.