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

Tilray Inc (NASDAQ:TLRY) shares were down 2.2% during mid-day trading on Monday . The stock traded as low as $1.33 and last traded at $1.34. Approximately 11,141,008 shares traded hands during 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 Analysts Forecast Growth

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

Tilray Trading Up 0.4 %

The stock has a market cap of $1.21 billion, a P/E ratio of -4.96 and a beta of 2.14. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $1.57 and a two-hundred day moving average price of $1.72.

Tilray (NASDAQ:TLRY) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $200.00 million for the quarter, compared to the consensus estimate 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 for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. On average, research analysts expect that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Activity

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently bought and sold shares of the business. Prospect Financial Services LLC purchased a new stake in shares of Tilray in the 2nd quarter worth $26,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray in the 3rd quarter worth $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Tilray in the 2nd quarter worth $29,000. Jeppson Wealth Management LLC purchased a new stake in shares of Tilray in the 2nd quarter worth $33,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in shares of Tilray in the 2nd quarter worth $34,000. 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.