Tilray (NASDAQ:TLRY) Shares Down 2.2% – Here’s Why

Tilray Inc (NASDAQ:TLRY) was down 2.2% during mid-day trading on Monday . The company traded as low as $1.33 and last traded at $1.34. Approximately 11,141,008 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 25,459,518 shares. The stock had previously closed at $1.37.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased their target price on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Tilray Stock Down 1.5 %

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 firm’s 50 day moving average is $1.55 and its two-hundred day moving average is $1.71. The firm has a market capitalization of $1.16 billion, a P/E ratio of -4.74 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) earnings per share. Research analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Insider Activity

In related news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after acquiring an additional 117,891 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Tilray by 4.4% during the 1st quarter. California State Teachers Retirement System now owns 678,990 shares of the company’s stock worth $1,677,000 after buying an additional 28,586 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Tilray by 209.5% during the first quarter. Cetera Advisors LLC now owns 115,665 shares of the company’s stock worth $286,000 after purchasing an additional 78,292 shares during the period. SG Americas Securities LLC raised its position in shares of Tilray by 80.8% during the second quarter. SG Americas Securities LLC now owns 345,240 shares of the company’s stock worth $573,000 after purchasing an additional 154,334 shares during the period. Finally, Prospect Financial Services LLC acquired a new position in shares of Tilray during the second quarter worth approximately $26,000. 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.