Tilray (NASDAQ:TLRY) Shares Down 0.8% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) was down 0.8% during trading on Wednesday . The stock traded as low as $1.28 and last traded at $1.30. Approximately 8,541,022 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 25,445,021 shares. The stock had previously closed at $1.31.

Analyst Ratings Changes

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

Tilray Stock Performance

The company has a 50 day moving average of $1.63 and a two-hundred day moving average of $1.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The company has a market capitalization of $1.17 billion, a PE ratio of -4.75 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. During the same period last year, the business earned ($0.10) EPS. Tilray’s quarterly revenue 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 year.

Insider Activity

In other news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Prospect Financial Services LLC bought a new stake in shares of Tilray in the second quarter worth $26,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray during the 3rd quarter valued at about $26,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Tilray during the 2nd quarter valued at about $29,000. Jeppson Wealth Management LLC purchased a new stake in shares of Tilray during the 2nd quarter valued at about $33,000. Finally, Vanguard Capital Wealth Advisors bought a new position in shares of Tilray in the 2nd quarter worth approximately $34,000. 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.