Tilray (NASDAQ:TLRY) Shares Down 1.4% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 1.4% on Wednesday . The stock traded as low as $1.38 and last traded at $1.41. 52,686,699 shares were traded during trading, an increase of 101% from the average session volume of 26,246,777 shares. The stock had previously closed at $1.43.

Analyst Ratings Changes

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

Tilray Stock 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 stock has a market cap of $1.27 billion, a PE ratio of -5.22 and a beta of 2.09.

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

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, 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 can be accessed through this link. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Synovus Financial Corp grew its holdings in Tilray by 176.7% in the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock valued at $64,000 after buying an additional 23,046 shares during the last quarter. Barclays PLC grew its holdings in Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after buying an additional 174,997 shares during the last quarter. Toronto Dominion Bank grew its holdings in Tilray by 454.5% in the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock valued at $227,000 after buying an additional 105,671 shares during the last quarter. XTX Topco Ltd grew its holdings in Tilray by 1,079.7% in the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after buying an additional 257,641 shares during the last quarter. Finally, State Street Corp grew its holdings in Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after buying an additional 88,079 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.