Tilray (NASDAQ:TLRY) Stock Price Down 1.9% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 1.9% during trading on Tuesday . The company traded as low as $1.31 and last traded at $1.32. 3,873,850 shares changed hands during trading, a decline of 85% from the average session volume of 25,369,223 shares. The stock had previously closed at $1.34.

Wall Street Analyst Weigh In

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

Tilray Trading Down 4.1 %

The business’s 50 day moving average price is $1.56 and its two-hundred day moving average price is $1.71. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -4.87 and a beta of 2.09. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last posted its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned ($0.10) earnings per share. On average, equities analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Carl A. Merton acquired 26,000 shares of Tilray 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 transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is owned by insiders.

Institutional Trading of Tilray

Several large investors have recently made changes to their positions in TLRY. BNP Paribas Financial Markets increased its holdings in shares of Tilray by 1,314.1% during 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Tilray in the third quarter valued at $1,348,000. Bank of Montreal Can grew its holdings in shares of Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares during the last quarter. XTX Topco Ltd increased its position in shares of Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after acquiring an additional 257,641 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after acquiring an additional 174,997 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.