Tilray (NASDAQ:TLRY) Stock Price Down 0.3% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 0.3% during mid-day trading on Tuesday . The company traded as low as $1.71 and last traded at $1.73. 9,844,903 shares changed hands during trading, a decline of 61% from the average session volume of 25,113,730 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped 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 Price Performance

The stock has a market cap of $1.60 billion, a P/E ratio of -6.37 and a beta of 2.14. The business’s 50 day moving average price is $1.69 and its two-hundred day moving average price is $1.79. The company has a current ratio of 2.47, a quick ratio of 1.57 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) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analyst estimates 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 was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) EPS. As a group, sell-side analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Tilray

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after buying an additional 355,778 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Tilray during the 1st quarter valued at $118,000. Avantax Advisory Services Inc. increased its holdings in shares of Tilray by 46.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company’s stock worth $131,000 after purchasing an additional 16,792 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Tilray in the first quarter worth $75,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock valued at $1,131,000 after purchasing an additional 70,605 shares in the last quarter. Hedge funds and other 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.