Tilray (NASDAQ:TLRY) Stock Price Down 1.7% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 1.7% during trading on Tuesday . The stock traded as low as $1.15 and last traded at $1.16. 13,606,366 shares were traded during trading, a decline of 68% from the average session volume of 42,993,078 shares. The stock had previously closed at $1.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Roth Mkm cut their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group upped their target price on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock 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 stock’s fifty day moving average price is $1.35 and its 200-day moving average price is $1.61. The company has a market capitalization of $1.05 billion, a P/E ratio of -4.30 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The shares were acquired 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several large investors have recently made changes to their positions in TLRY. Wealth Enhancement Advisory Services LLC raised its stake in shares of Tilray by 22.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after acquiring an additional 7,339 shares during the last quarter. Bank of Montreal Can raised its stake in Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after buying an additional 7,406 shares during the last quarter. Arizona State Retirement System raised its stake in Tilray by 4.4% during the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after buying an additional 9,171 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in Tilray by 58.1% during the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after buying an additional 11,632 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new position in Tilray during the third quarter worth $26,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.