Tilray (NASDAQ:TLRY) Shares Down 0.7% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) dropped 0.7% during trading on Friday . The company traded as low as $1.35 and last traded at $1.36. Approximately 3,073,291 shares traded hands during trading, a decline of 88% from the average daily volume of 25,418,588 shares. The stock had previously closed at $1.37.

Analysts Set New Price Targets

Separately, Roth Mkm decreased their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Price Performance

The company has a 50 day moving average of $1.58 and a two-hundred day moving average of $1.73. The firm has a market cap of $1.21 billion, a P/E ratio of -5.04 and a beta of 2.14. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

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). The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. Tilray’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) EPS. Sell-side analysts expect that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Synovus Financial Corp boosted its position in shares of Tilray by 176.7% in the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock valued at $64,000 after purchasing an additional 23,046 shares during the period. Barclays PLC boosted its holdings in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after buying an additional 174,997 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Tilray by 454.5% in the third quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock worth $227,000 after buying an additional 105,671 shares during the period. XTX Topco Ltd increased its position in shares of Tilray by 1,079.7% in the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after acquiring an additional 257,641 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after acquiring an additional 88,079 shares in the last quarter. 9.35% of the stock is 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.