Tilray (NASDAQ:TLRY) Stock Price Down 4.3% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) dropped 4.3% during mid-day trading on Monday . The stock traded as low as $0.97 and last traded at $1.01. Approximately 21,987,405 shares changed hands during trading, a decline of 48% from the average daily volume of 42,106,961 shares. The stock had previously closed at $1.05.

Analysts Set New Price Targets

Several brokerages have commented on TLRY. Roth Mkm dropped their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group raised their target price on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Trading Up 7.0 %

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -3.57 and a beta of 2.07. The firm has a 50-day moving average price of $1.25 and a 200 day moving average price of $1.54.

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

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the firm’s 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 acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently modified their holdings of TLRY. BNP Paribas Financial Markets grew its holdings in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after acquiring an additional 1,690,827 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Tilray in the 3rd quarter worth approximately $1,348,000. XTX Topco Ltd raised its holdings in shares of Tilray by 1,079.7% in the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares in the last quarter. Alberta Investment Management Corp lifted its stake in Tilray by 58.2% during the fourth quarter. Alberta Investment Management Corp now owns 668,800 shares of the company’s stock valued at $884,000 after purchasing an additional 246,000 shares during the last quarter. Finally, Thompson Davis & CO. Inc. bought a new stake in Tilray during the fourth quarter worth approximately $249,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.