Tilray (NASDAQ:TLRY) Trading Down 1.6% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) were down 1.6% during trading on Wednesday . The company traded as low as $1.21 and last traded at $1.22. Approximately 6,950,896 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 25,755,107 shares. The stock had previously closed at $1.24.

Analyst Ratings Changes

Separately, Roth Mkm decreased 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.

Tilray Price Performance

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 $1.07 billion, a P/E ratio of -4.41 and a beta of 2.08. The company’s fifty day moving average price is $1.46 and its 200 day moving average price is $1.66.

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 the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the previous year, the firm earned ($0.10) EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought 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 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray during the 3rd quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Tilray in the 2nd quarter valued at $29,000. Jeppson Wealth Management LLC bought a new position in shares of Tilray in the 2nd quarter valued at $33,000. Pallas Capital Advisors LLC acquired a new stake in shares of Tilray during the 2nd quarter valued at $37,000. Finally, Vanguard Capital Wealth Advisors bought a new stake in Tilray during the 2nd quarter worth $34,000. Institutional investors own 9.35% of the company’s stock.

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.