Tilray (NASDAQ:TLRY) Trading Down 4.2% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s share price traded down 4.2% during trading on Tuesday . The stock traded as low as $1.36 and last traded at $1.36. 7,995,080 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 25,484,080 shares. The stock had previously closed at $1.42.

Analysts Set New Price Targets

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

Tilray Trading Down 4.9 %

The company has a 50-day simple moving average of $1.60 and a 200 day simple moving average of $1.73. The firm has a market cap of $1.22 billion, a PE ratio of -5.04 and a beta of 2.14. 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) EPS for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $200.00 million during 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 in the prior year, the company earned ($0.10) EPS. As a group, sell-side analysts forecast that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Tilray

A number of large investors have recently bought and sold shares of the business. Tidal Investments LLC grew its position in Tilray by 36,687.0% in the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after buying an additional 10,648,403 shares during the last quarter. Vanguard Group Inc. raised 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 buying an additional 117,891 shares during the last quarter. Bank of Montreal Can lifted 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 purchasing an additional 7,406 shares in the last quarter. State Street Corp increased its position in Tilray by 4.7% during the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after buying an additional 88,079 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. 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.