Tilray (NASDAQ:TLRY) Stock Price Down 1.5% – Here’s Why

Tilray Inc (NASDAQ:TLRY) traded down 1.5% during trading on Monday . The company traded as low as $1.26 and last traded at $1.28. 34,431,125 shares were traded during trading, an increase of 32% from the average session volume of 26,072,732 shares. The stock had previously closed at $1.30.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their target price 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.

Tilray Stock Down 2.3 %

The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -4.74 and a beta of 2.09. The firm’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last issued 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). 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 the consensus estimate of $218.70 million. During the same period in the prior year, the company earned ($0.10) EPS. Tilray’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts expect that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were bought 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 directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Tilray by 3.5% in the first 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. Cetera Advisors LLC increased its holdings in Tilray by 209.5% in the first quarter. Cetera Advisors LLC now owns 115,665 shares of the company’s stock worth $286,000 after buying an additional 78,292 shares during the last quarter. SG Americas Securities LLC increased its holdings in Tilray by 80.8% in the second quarter. SG Americas Securities LLC now owns 345,240 shares of the company’s stock worth $573,000 after buying an additional 154,334 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Tilray by 103.1% in the second quarter. Baader Bank Aktiengesellschaft now owns 304,582 shares of the company’s stock worth $504,000 after buying an additional 154,582 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in Tilray in the second quarter worth approximately $37,000. Institutional investors and hedge funds 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.