Tilray (NASDAQ:TLRY) Shares Down 1.1% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 1.1% during mid-day trading on Thursday . The stock traded as low as $1.22 and last traded at $1.25. 10,184,300 shares were traded during mid-day trading, a decline of 60% from the average session volume of 25,611,918 shares. The stock had previously closed at $1.26.

Analysts Set New Price Targets

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

Tilray Stock Performance

The firm has a market cap of $1.07 billion, a P/E ratio of -4.41 and a beta of 2.08. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $1.48 and its two-hundred day moving average is $1.67.

Tilray (NASDAQ:TLRY) last posted its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same quarter last year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts predict 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 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 purchase, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock valued at $8,707,000 after acquiring an additional 117,891 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Tilray by 209.5% during the 1st quarter. Cetera Advisors LLC now owns 115,665 shares of the company’s stock valued at $286,000 after purchasing an additional 78,292 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Tilray by 80.8% in the second quarter. SG Americas Securities LLC now owns 345,240 shares of the company’s stock worth $573,000 after purchasing an additional 154,334 shares during the period. Pallas Capital Advisors LLC purchased a new stake in shares of Tilray in the second quarter worth $37,000. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Tilray during the second quarter valued at $29,000. Institutional investors 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.