Tilray (NASDAQ:TLRY) Stock Price Down 2.2% – What’s Next?

Tilray Inc (NASDAQ:TLRY) traded down 2.2% during trading on Wednesday . The company traded as low as $1.28 and last traded at $1.33. 36,453,961 shares traded hands during trading, an increase of 38% from the average session volume of 26,444,244 shares. The stock had previously closed at $1.36.

Wall Street Analysts Forecast Growth

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

Tilray Stock Performance

The stock’s 50 day moving average is $1.40 and its two-hundred day moving average is $1.63. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -5.41 and a beta of 2.09. 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 posted its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. Tilray’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton acquired 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, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed 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 bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after purchasing an additional 7,339 shares during the last quarter. Bank of Montreal Can increased its holdings in Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after buying an additional 7,406 shares during the last quarter. Arizona State Retirement System raised its position in Tilray by 4.4% during the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after acquiring an additional 9,171 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in Tilray by 58.1% in the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after acquiring an additional 11,632 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray in the 3rd quarter valued at about $26,000. 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.