Tilray (NASDAQ:TLRY) Sets New 12-Month Low – Should You Sell?

Tilray Inc (NASDAQ:TLRY) reached a new 52-week low during trading on Tuesday . The company traded as low as $0.63 and last traded at $0.65, with a volume of 23750696 shares. The stock had previously closed at $0.69.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Trading Up 5.0 %

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 stock has a 50 day simple moving average of $1.01 and a 200-day simple moving average of $1.35. The firm has a market cap of $600.10 million, a P/E ratio of -2.13 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC increased its position in shares of Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Bank of Montreal Can increased its position in shares of Tilray by 14.4% during the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock valued at $3,310,000 after purchasing an additional 312,476 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tilray by 20.1% during the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock valued at $3,200,000 after purchasing an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after purchasing an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tilray by 17.1% during 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 valued at $2,613,000 after purchasing an additional 286,481 shares during the last quarter. Institutional investors 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.