Tilray (NASDAQ:TLRY) Trading Down 1.5% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) shares dropped 1.5% on Monday . The company traded as low as $1.26 and last traded at $1.28. Approximately 34,431,125 shares changed hands during trading, an increase of 32% from the average daily volume of 26,072,732 shares. The stock had previously closed at $1.30.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased 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 Trading Up 2.0 %

The business’s 50 day moving average price is $1.53 and its two-hundred day moving average price is $1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -4.74 and a beta of 2.09.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (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 during the quarter, compared to analyst estimates of $218.70 million. During the same period last year, the company posted ($0.10) EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of Tilray 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 completion of the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray

Institutional investors and hedge funds have recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the third quarter worth $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the second quarter valued at about $29,000. Jeppson Wealth Management LLC acquired a new position in shares of Tilray in the second quarter worth about $33,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Tilray in the second quarter worth approximately $34,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Tilray during the second quarter valued at approximately $37,000. Institutional investors and hedge funds 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.