Tilray (NASDAQ:TLRY) Shares Down 1.1% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) were down 1.1% during trading on Friday . The stock traded as low as $1.36 and last traded at $1.37. Approximately 5,796,186 shares traded hands during trading, a decline of 77% from the average daily volume of 25,428,746 shares. The stock had previously closed at $1.38.

Wall Street Analysts Forecast Growth

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

Tilray Trading Down 2.2 %

The firm’s 50 day simple moving average is $1.65 and its two-hundred day simple moving average is $1.77. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.22 billion, a P/E ratio of -5.00 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last announced 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). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Tilray by 22.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after acquiring an additional 7,339 shares during the period. Bank of Montreal Can lifted its position in Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares during the last quarter. Arizona State Retirement System lifted its position in Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after purchasing an additional 9,171 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after purchasing an additional 11,632 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new position in Tilray in the 3rd quarter worth about $26,000. 9.35% of the stock is currently owned by institutional investors.

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.