Tilray (NASDAQ:TLRY) Trading Down 11.7% After Earnings Miss

Tilray Inc (NASDAQ:TLRY) was down 11.7% on Friday following a dissappointing earnings announcement. The stock traded as low as $1.18 and last traded at $1.21. Approximately 30,487,819 shares traded hands during trading, a decline of 33% from the average daily volume of 45,809,570 shares. The stock had previously closed at $1.37.

The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis.

Analyst Upgrades and Downgrades

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 research report on Friday, October 11th.

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Tilray by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock valued at $760,000 after purchasing an additional 105,803 shares during the last quarter. Synovus Financial Corp raised its position in shares of Tilray by 176.7% in the third 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 lifted its stake in shares of Tilray by 600.4% during the third 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 period. Toronto Dominion Bank raised 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 acquiring an additional 105,671 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

Tilray Stock Down 12.0 %

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -4.46 and a beta of 2.08. 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 firm has a fifty day moving average price of $1.37 and a 200-day moving average price of $1.62.

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.