Tilray (NASDAQ:TLRY) Stock Price Down 4.3% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s share price was down 4.3% on Wednesday . The company traded as low as $1.22 and last traded at $1.23. Approximately 14,071,031 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 25,580,971 shares. The stock had previously closed at $1.28.

Analyst Ratings Changes

Separately, Roth Mkm cut their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th.

Tilray Trading Down 1.7 %

The stock has a market capitalization of $1.07 billion, a PE ratio of -4.30 and a beta of 2.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The business’s 50-day moving average is $1.49 and its two-hundred day moving average is $1.68.

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

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction dated Friday, November 15th. The shares were acquired 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 directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Tilray by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after acquiring an additional 117,891 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Tilray by 209.5% in the 1st quarter. Cetera Advisors LLC now owns 115,665 shares of the company’s stock worth $286,000 after buying an additional 78,292 shares in the last quarter. SG Americas Securities LLC grew its stake in Tilray by 80.8% in the 2nd quarter. SG Americas Securities LLC now owns 345,240 shares of the company’s stock valued at $573,000 after acquiring an additional 154,334 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in Tilray during the 2nd quarter valued at about $37,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Tilray during the second quarter worth about $29,000. 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.