Tilray (NASDAQ:TLRY) Stock Price Down 4.3% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 4.3% during trading on Monday . The company traded as low as $0.97 and last traded at $1.01. Approximately 21,987,405 shares traded 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.

Wall Street Analysts Forecast Growth

TLRY has been the subject of a number of recent research reports. Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Roth Mkm cut their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Tilray has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Performance

The firm’s 50 day simple moving average is $1.27 and its 200-day simple moving average is $1.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The company has a market capitalization of $928.28 million, a price-to-earnings ratio of -3.30 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased 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 owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray

A number of large investors have recently bought and sold shares of the business. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray during the third quarter valued at about $26,000. Ameritas Advisory Services LLC bought a new stake in Tilray during the fourth quarter valued at about $32,000. Newman Dignan & Sheerar Inc. boosted its holdings in Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after acquiring an additional 10,000 shares during the period. International Assets Investment Management LLC boosted its holdings in Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after acquiring an additional 18,208 shares during the period. Finally, Vista Capital Partners Inc. bought a new stake in Tilray during the third quarter valued at about $42,000. 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.