Tilray (NASDAQ:TLRY) Trading Down 0.2% – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) dropped 0.2% during mid-day trading on Thursday . The stock traded as low as $1.66 and last traded at $1.68. Approximately 8,909,557 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 25,071,973 shares. The stock had previously closed at $1.68.

Analyst Ratings Changes

Separately, Roth Mkm cut 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 Down 1.8 %

The company’s 50-day moving average price is $1.72 and its 200 day moving average price is $1.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The stock has a market cap of $1.49 billion, a PE ratio of -6.21 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) earnings per share. As a group, analysts forecast that Tilray Inc will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

A number of institutional investors have recently bought and sold shares of TLRY. Wealth Enhancement Advisory Services LLC increased its position in Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after buying an additional 7,339 shares in the last quarter. Arizona State Retirement System increased its holdings in Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after acquiring an additional 9,171 shares in the last quarter. CapWealth Advisors LLC raised its stake in Tilray by 12.5% during the 1st quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock worth $222,000 after acquiring an additional 10,000 shares during the period. Private Advisor Group LLC lifted its holdings in Tilray by 7.3% during the first quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock valued at $434,000 after purchasing an additional 12,021 shares in the last quarter. Finally, HBK Sorce Advisory LLC bought a new position in shares of Tilray in the first quarter worth approximately $37,000. 9.35% of the stock is owned by institutional investors.

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.