Tilray (NASDAQ:TLRY) Shares Down 2.2% – What’s Next?

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

Analyst Ratings Changes

Separately, Roth Mkm decreased their price objective on 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 Performance

The business has a 50 day simple moving average of $1.57 and a 200 day simple moving average of $1.72. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.21 billion, a PE ratio of -4.96 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $200.00 million for 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 company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) earnings per share. Equities research analysts predict that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,000 shares in the company, 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 accessible through this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently bought and sold shares of TLRY. Prospect Financial Services LLC acquired a new stake in Tilray during the second quarter worth about $26,000. Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray in the third quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray in the second quarter valued at approximately $29,000. Jeppson Wealth Management LLC acquired a new stake in Tilray in the second quarter valued at approximately $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in Tilray in the second quarter valued at approximately $34,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.