Tilray (NASDAQ:TLRY) Trading Down 6.3% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 6.3% during mid-day trading on Monday . The stock traded as low as $1.33 and last traded at $1.34. 21,174,358 shares changed hands during trading, a decline of 20% from the average session volume of 26,304,537 shares. The stock had previously closed at $1.43.

Analyst Ratings Changes

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

Tilray Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The stock has a market capitalization of $1.24 billion, a P/E ratio of -5.07 and a beta of 2.08. The stock’s fifty day moving average is $1.42 and its 200-day moving average is $1.64.

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

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade 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. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after purchasing an additional 7,339 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares during the last quarter. Arizona State Retirement System lifted its position in Tilray by 4.4% during the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after buying an additional 9,171 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after acquiring an additional 11,632 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray in the 3rd quarter valued at about $26,000. 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.