Shares of Tilray Inc (NASDAQ:TLRY – Get Free Report) dropped 0.3% on Tuesday . The company traded as low as $1.71 and last traded at $1.73. Approximately 9,844,903 shares traded hands during trading, a decline of 61% from the average daily volume of 25,113,730 shares. The stock had previously closed at $1.73.
Analysts Set New Price Targets
Separately, Roth Mkm cut 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.
Get Our Latest Analysis on Tilray
Tilray Stock Performance
Tilray (NASDAQ:TLRY – Get Free Report) last posted its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share 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 for the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the prior year, the business earned ($0.10) earnings per share. Tilray’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Tilray Inc will post -0.14 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Tilray
Several institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC bought a new stake in Tilray in the third quarter worth $63,000. Vista Capital Partners Inc. bought a new position in Tilray during the 3rd quarter worth approximately $42,000. Concurrent Investment Advisors LLC purchased a new position in Tilray in the 3rd quarter worth approximately $110,000. Vestor Capital LLC bought a new stake in Tilray in the third quarter valued at approximately $53,000. Finally, Pallas Capital Advisors LLC raised its holdings in Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after buying an additional 11,632 shares during the last quarter. 9.35% of the stock is currently owned by 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.
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