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

Tilray Inc (NASDAQ:TLRY)’s stock price fell 2.2% on Monday . The stock traded as low as $1.11 and last traded at $1.12. 10,951,973 shares changed hands during trading, a decline of 74% from the average session volume of 41,894,934 shares. The stock had previously closed at $1.14.

Wall Street Analyst Weigh In

TLRY has been the subject of several recent analyst reports. Canaccord Genuity Group upped their target price on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Roth Mkm reduced their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Down 3.2 %

The company has a market capitalization of $989.23 million, a P/E ratio of -3.52 and a beta of 2.08. The stock has a 50 day moving average price of $1.29 and a 200 day moving average price of $1.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Institutional investors have recently made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the 3rd quarter worth about $26,000. International Assets Investment Management LLC lifted its holdings in shares of Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. bought a new position in shares of Tilray in the third quarter valued at approximately $42,000. Ameritas Advisory Services LLC purchased a new position in Tilray during the fourth quarter valued at approximately $32,000. Finally, Capital Management Associates Inc bought a new stake in Tilray during the 3rd quarter worth approximately $45,000. 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.