Tilray (NASDAQ:TLRY) Trading Down 0.7% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price was down 0.7% during trading on Friday . The company traded as low as $1.35 and last traded at $1.36. Approximately 3,073,291 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 25,418,588 shares. The stock had previously closed at $1.37.

Analysts Set New Price Targets

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

Tilray Stock Down 2.2 %

The stock’s fifty day simple moving average is $1.58 and its two-hundred day simple moving average is $1.73. 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 company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -5.04 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $218.70 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Tilray’s quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position 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 worth $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 valued at $1,348,000. Bank of Montreal Can boosted 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 worth $3,622,000 after acquiring an additional 355,778 shares during the period. XTX Topco Ltd grew its stake in shares of Tilray by 1,079.7% in the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Tilray during the first quarter valued at $586,000. 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.