Tilray (NASDAQ:TLRY) Trading Down 5.5% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) fell 5.5% during trading on Thursday . The stock traded as low as $1.34 and last traded at $1.37. 51,758,249 shares were traded during trading, an increase of 5% from the average session volume of 49,491,785 shares. The stock had previously closed at $1.45.

Analysts Set New Price Targets

Separately, Roth Mkm dropped 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 Stock Down 10.2 %

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 has a market capitalization of $1.11 billion, a price-to-earnings ratio of -4.56 and a beta of 2.08. The firm’s fifty day simple moving average is $1.37 and its 200 day simple moving average is $1.62.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. The company’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Activity

In other news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were acquired 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 in the company, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can raised its holdings in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares during the last quarter. State Street Corp boosted its holdings in Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after acquiring an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tilray by 6.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Tilray by 2.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock worth $2,617,000 after purchasing an additional 37,300 shares during the period. Institutional investors own 9.35% of the company’s stock.

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.