Tilray (NASDAQ:TLRY) Stock Price Down 5.5% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 5.5% during trading on Thursday . The company traded as low as $1.34 and last traded at $1.37. Approximately 51,758,249 shares changed hands during trading, an increase of 5% from the average daily volume of 49,491,785 shares. The stock had previously closed at $1.45.

Wall Street Analysts Forecast Growth

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

Tilray Stock Down 5.5 %

The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.07 and a beta of 2.08. The business’s 50-day moving average is $1.38 and its two-hundred day moving average is $1.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results 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 net margin of 26.79% and a negative return on equity of 2.00%. Tilray’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company posted ($0.10) EPS. On average, equities analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $35,360. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Tilray by 32.4% in the third quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock valued at $760,000 after buying an additional 105,803 shares in the last quarter. Synovus Financial Corp boosted its position in Tilray by 176.7% during the third quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock worth $64,000 after purchasing an additional 23,046 shares during the period. Barclays PLC boosted its position in Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Tilray by 454.5% during the third quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock worth $227,000 after buying an additional 105,671 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after buying an additional 257,641 shares in the last quarter. 9.35% of the stock is owned by institutional investors.

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.