Tilray (NASDAQ:TLRY) Trading Down 5.4% - What's Next?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) fell 5.4% during trading on Friday . The stock traded as low as $0.43 and last traded at $0.45. 44,059,783 shares traded hands during trading, an increase of 50% from the average session volume of 29,397,973 shares. The stock had previously closed at $0.48.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TLRY shares. Piper Sandler lowered their price objective on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Canaccord Genuity Group boosted their target price on Tilray from $2.00 to $3.00 and gave the stock 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 quick ratio of 1.58 and a current ratio of 2.54. The firm has a market capitalization of $429.35 million, a price-to-earnings ratio of -1.53 and a beta of 1.88. The stock's fifty day moving average is $0.66 and its two-hundred day moving average is $1.11.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The business had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently modified their holdings of TLRY. Tidal Investments LLC raised its stake in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after buying an additional 889,086 shares in the last quarter. Bank of Montreal Can lifted its stake in Tilray by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock worth $3,310,000 after purchasing an additional 312,476 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tilray by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after purchasing an additional 403,371 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after purchasing an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tilray by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock worth $2,613,000 after buying an additional 286,481 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

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.