Tilray (NASDAQ:TLRY) Shares Down 1.3% – Here’s Why

Tilray Inc (NASDAQ:TLRY) shares dropped 1.3% during mid-day trading on Thursday . The company traded as low as $1.11 and last traded at $1.12. Approximately 10,779,707 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 42,243,230 shares. The stock had previously closed at $1.13.

Analysts Set New Price Targets

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

Tilray Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The business has a 50-day moving average of $1.31 and a 200-day moving average of $1.59. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -3.72 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.10) 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 company had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts anticipate that Tilray Inc will post -0.2 EPS for the current 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, with a total value of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV grew its holdings in shares of Tilray by 75.9% during the 4th quarter. KBC Group NV now owns 38,332 shares of the company’s stock valued at $51,000 after purchasing an additional 16,539 shares during the last quarter. Madrona Financial Services LLC increased its position in Tilray by 40.0% in the 4th quarter. Madrona Financial Services LLC now owns 70,000 shares of the company’s stock valued at $93,000 after acquiring an additional 20,000 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Tilray during the fourth quarter worth $32,000. Pallas Capital Advisors LLC grew its stake in shares of Tilray by 59.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 50,438 shares of the company’s stock worth $67,000 after purchasing an additional 18,792 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Tilray by 32.4% in the third quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock valued at $760,000 after purchasing an additional 105,803 shares during the period. 9.35% of the stock is 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.