Tilray (NASDAQ:TLRY) Shares Down 1.4% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) fell 1.4% on Wednesday . The stock traded as low as $1.38 and last traded at $1.41. 52,686,699 shares traded hands during mid-day trading, an increase of 101% from the average session volume of 26,246,777 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th.

Tilray Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The firm has a market capitalization of $1.27 billion, a P/E ratio of -5.22 and a beta of 2.09. The stock has a fifty day moving average price of $1.44 and a two-hundred day moving average price of $1.65.

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

Insiders Place Their Bets

In other news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $1.36 per share, with a total value 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray

Institutional investors and hedge funds have recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the third quarter worth $26,000. Signature Estate & Investment Advisors LLC acquired a new position in Tilray during the second quarter valued at $29,000. Jeppson Wealth Management LLC acquired a new position in Tilray during the second quarter valued at $33,000. Vanguard Capital Wealth Advisors acquired a new position in Tilray during the second quarter valued at $34,000. Finally, International Assets Investment Management LLC raised its position in Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after buying an additional 18,208 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.