Tilray (NASDAQ:TLRY) Stock Price Down 1.7% – What’s Next?

Tilray Inc (NASDAQ:TLRY) fell 1.7% on Tuesday . The stock traded as low as $1.15 and last traded at $1.16. 13,606,366 shares traded hands during trading, a decline of 68% from the average session volume of 42,993,078 shares. The stock had previously closed at $1.18.

Analyst Ratings Changes

Several research firms have recently weighed in on TLRY. Canaccord Genuity Group raised their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday. Roth Mkm dropped their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Down 1.7 %

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 firm’s 50-day moving average is $1.35 and its two-hundred day moving average is $1.61. The stock has a market cap of $1.05 billion, a P/E ratio of -4.30 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The business’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction on Friday, November 15th. The stock was purchased 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 owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. BNP Paribas Financial Markets grew its holdings 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. acquired a new position in shares of Tilray in the 3rd quarter valued at $1,348,000. Bank of Montreal Can grew its holdings in shares of Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares during the period. XTX Topco Ltd grew its holdings 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 buying an additional 257,641 shares during the period. Finally, Barclays PLC grew its holdings in shares of Tilray by 600.4% in the 3rd 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. Institutional investors and hedge funds 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.