Tilray (NASDAQ:TLRY) Shares Down 1.3% – Here’s Why

Tilray Inc (NASDAQ:TLRY) fell 1.3% on Thursday . The company traded as low as $1.11 and last traded at $1.12. 10,779,707 shares traded hands during trading, a decline of 74% from the average session volume of 42,243,230 shares. The stock had previously closed at $1.13.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TLRY. Canaccord Genuity Group boosted their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Roth Mkm cut their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Performance

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 firm has a fifty day moving average of $1.31 and a 200-day moving average of $1.59. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -3.72 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Insider Activity

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the third quarter valued at approximately $26,000. Ameritas Advisory Services LLC bought a new position in shares of Tilray during the 4th quarter worth about $32,000. International Assets Investment Management LLC grew its position in Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. bought a new position in Tilray during the third quarter valued at about $42,000. Finally, Capital Management Associates Inc bought a new stake in shares of Tilray in the 3rd quarter worth approximately $45,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.