Tilray (NASDAQ:TLRY) Shares Down 2.1% – Here’s What Happened

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Roth Mkm reduced their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group raised their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.70.

Tilray Stock Down 2.1 %

The stock has a market cap of $1.10 billion, a PE ratio of -3.92 and a beta of 2.08. The business has a fifty day moving average of $1.32 and a 200-day moving average of $1.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost 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 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is owned by insiders.

Institutional Trading of Tilray

Several large investors have recently made changes to their positions in the business. Madrona Financial Services LLC boosted its holdings in Tilray by 40.0% in the fourth quarter. Madrona Financial Services LLC now owns 70,000 shares of the company’s stock valued at $93,000 after purchasing an additional 20,000 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Tilray during the fourth quarter valued at approximately $32,000. Pallas Capital Advisors LLC lifted its holdings in Tilray by 59.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 50,438 shares of the company’s stock valued at $67,000 after acquiring an additional 18,792 shares during the period. JPMorgan Chase & Co. boosted its position in Tilray by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock worth $760,000 after purchasing an additional 105,803 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in shares of Tilray by 176.7% during the 3rd 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. 9.35% of the stock is owned by hedge funds and other 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.