Tilray (NASDAQ:TLRY) Shares Down 0.9% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) traded down 0.9% during mid-day trading on Wednesday . The company traded as low as $1.28 and last traded at $1.29. 4,593,707 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 25,390,143 shares. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered their price objective 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 1.5 %

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 firm’s 50 day moving average is $1.55 and its two-hundred day moving average is $1.71. The firm has a market capitalization of $1.16 billion, a P/E ratio of -4.74 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released 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 during the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the previous year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Research analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton bought 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 completion of the transaction, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently modified their holdings of TLRY. Vanguard Group Inc. boosted its position in shares of Tilray by 3.5% in 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 during the period. California State Teachers Retirement System raised its stake in Tilray by 4.4% in the first quarter. California State Teachers Retirement System now owns 678,990 shares of the company’s stock valued at $1,677,000 after purchasing an additional 28,586 shares in the last quarter. Cetera Advisors LLC raised its stake in Tilray by 209.5% in the first 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 raised its stake in Tilray by 80.8% in the second quarter. SG Americas Securities LLC now owns 345,240 shares of the company’s stock valued at $573,000 after purchasing an additional 154,334 shares in the last quarter. Finally, Prospect Financial Services LLC acquired a new position in Tilray in the second quarter valued at about $26,000. 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.