Tilray (NASDAQ:TLRY) Stock Price Down 0.7% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price fell 0.7% on Tuesday . The company traded as low as $1.38 and last traded at $1.42. 37,942,801 shares traded hands during trading, an increase of 45% from the average session volume of 26,177,992 shares. The stock had previously closed at $1.43.

Analyst Ratings Changes

Separately, Roth Mkm decreased their price target 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.

Tilray Price Performance

The firm has a market cap of $1.27 billion, a P/E ratio of -5.22 and a beta of 2.09. The stock’s 50-day moving average is $1.44 and its 200-day moving average is $1.65. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

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

Insider Activity at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were 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 directly owns 26,000 shares of the company’s stock, valued at $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. Synovus Financial Corp raised its position in Tilray by 176.7% in the third quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock worth $64,000 after purchasing an additional 23,046 shares in the last quarter. Barclays PLC grew its stake 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 purchasing an additional 174,997 shares during the period. Toronto Dominion Bank raised its holdings in shares of Tilray by 454.5% in the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock worth $227,000 after buying an additional 105,671 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after buying an additional 257,641 shares during the period. Finally, State Street Corp boosted its stake in Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after buying an additional 88,079 shares in the last quarter. 9.35% of the stock is owned by institutional investors.

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.