Tilray (NASDAQ:TLRY) Hits New 12-Month Low – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $1.15 and last traded at $1.16, with a volume of 25338252 shares changing hands. The stock had previously closed at $1.16.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Trading Up 8.6 %

The company has a 50 day moving average of $1.44 and a 200 day moving average of $1.65. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -4.67 and a beta of 2.08. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. As a group, research analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the 3rd quarter valued at $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray in the second quarter worth about $29,000. Jeppson Wealth Management LLC acquired a new position in Tilray during the 2nd quarter valued at about $33,000. Vanguard Capital Wealth Advisors bought a new position in shares of Tilray in the 2nd quarter valued at about $34,000. Finally, Vista Capital Partners Inc. acquired a new stake in shares of Tilray during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

About Tilray

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.