Tilray (NASDAQ:TLRY) Shares Down 0.7% – Here’s Why

Tilray Inc (NASDAQ:TLRY) shares were down 0.7% on Tuesday . The stock traded as low as $1.38 and last traded at $1.42. Approximately 37,942,801 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 26,177,992 shares. The stock had previously closed at $1.43.

Analyst Ratings Changes

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

Tilray Trading Down 1.4 %

The business has a 50 day simple moving average of $1.44 and a 200 day simple moving average of $1.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -5.22 and a beta of 2.09.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The company’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insider Activity at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost 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 of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray

Several institutional investors have recently modified their holdings of TLRY. BNP Paribas Financial Markets boosted its stake in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after acquiring an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tilray during the third quarter worth $1,348,000. Bank of Montreal Can increased its holdings in Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares during the last quarter. Creative Planning lifted its stake in Tilray by 36.6% in the third quarter. Creative Planning now owns 141,921 shares of the company’s stock valued at $250,000 after buying an additional 38,054 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after buying an additional 70,605 shares during the last quarter. 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.