Tilray (NASDAQ:TLRY) Trading Down 2.1% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) were down 2.1% during trading on Tuesday . The company traded as low as $1.17 and last traded at $1.18. Approximately 9,745,797 shares were traded during trading, a decline of 77% from the average daily volume of 41,694,473 shares. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TLRY shares. Canaccord Genuity Group upped their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Roth Mkm cut their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Down 0.9 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $1.31 and a 200-day simple moving average of $1.59. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -3.73 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray

In other news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray in the third quarter valued at about $26,000. Ameritas Advisory Services LLC acquired a new position in Tilray in the fourth quarter valued at about $32,000. International Assets Investment Management LLC lifted its stake in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after buying an additional 18,208 shares during the period. Vista Capital Partners Inc. acquired a new position in Tilray in the third quarter valued at about $42,000. Finally, Capital Management Associates Inc acquired a new position in Tilray in the third quarter valued at about $45,000. Institutional investors 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.