Tilray (NASDAQ:TLRY) Stock Price Down 4.8% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) was down 4.8% on Wednesday . The company traded as low as $1.37 and last traded at $1.38. Approximately 16,479,722 shares changed hands during trading, a decline of 60% from the average daily volume of 41,312,246 shares. The stock had previously closed at $1.45.

Analyst Ratings Changes

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

Tilray Stock Performance

The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.15 and a beta of 2.08. The stock’s 50-day simple moving average is $1.38 and its 200 day simple moving average is $1.63.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting 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 business had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same period in the prior year, the company earned ($0.10) EPS. Tilray’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after buying an additional 1,690,827 shares during the period. Point72 Asset Management L.P. bought a new stake in Tilray during the 3rd quarter worth about $1,348,000. Bank of Montreal Can lifted its position in Tilray by 19.6% during the 2nd 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 period. XTX Topco Ltd boosted its stake in shares of 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 purchasing an additional 257,641 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Tilray by 600.4% during the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after buying an additional 174,997 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.