Tilray (NASDAQ:TLRY) Stock Price Down 1.1% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price fell 1.1% during trading on Tuesday . The stock traded as low as $1.31 and last traded at $1.35. 12,742,859 shares traded hands during trading, a decline of 52% from the average session volume of 26,348,602 shares. The stock had previously closed at $1.36.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered 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 Trading Down 2.9 %

The company’s fifty day moving average price is $1.42 and its two-hundred day moving average price is $1.64. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -4.89 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.

Tilray (NASDAQ:TLRY) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Research analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Transactions at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray

Hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in shares of Tilray by 13.3% in the 2nd quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock valued at $1,445,000 after purchasing an additional 102,316 shares during the last quarter. TD Asset Management Inc grew its holdings in Tilray by 8.1% during the 2nd quarter. TD Asset Management Inc now owns 1,373,045 shares of the company’s stock worth $2,278,000 after acquiring an additional 103,207 shares during the period. CapWealth Advisors LLC raised its position in shares of Tilray by 21.1% during the 2nd quarter. CapWealth Advisors LLC now owns 108,960 shares of the company’s stock valued at $181,000 after acquiring an additional 18,960 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after purchasing an additional 9,171 shares during the period. Finally, Jeppson Wealth Management LLC bought a new position in shares of Tilray in the 2nd quarter worth $33,000. 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.