Tilray (NASDAQ:TLRY) Stock Price Down 1.1% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price fell 1.1% during trading on Tuesday . The stock traded as low as $1.31 and last traded at $1.35. 12,742,859 shares were traded during mid-day trading, a decline of 52% from the average session volume of 26,348,602 shares. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

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

Tilray Price Performance

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 firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.89 and a beta of 2.08. The company has a 50-day moving average of $1.42 and a 200-day moving average of $1.64.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, research analysts anticipate that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Tilray in the 3rd quarter valued at about $1,348,000. Bank of Montreal Can increased its position in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after acquiring an additional 355,778 shares during the last quarter. XTX Topco Ltd raised its holdings in Tilray by 1,079.7% during 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, Barclays PLC boosted its position in Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares during the last quarter. 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.