Tilray (NASDAQ:TLRY) Trading Down 5.5% – Here’s Why

Tilray Inc (NASDAQ:TLRY) traded down 5.5% during trading on Thursday . The stock traded as low as $1.34 and last traded at $1.37. 51,758,249 shares changed hands during trading, an increase of 5% from the average session volume of 49,491,785 shares. The stock had previously closed at $1.45.

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

The stock has a market capitalization of $1.11 billion, a PE ratio of -4.56 and a beta of 2.08. The business has a 50 day moving average price of $1.37 and a 200 day moving average price of $1.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Transactions at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray in the 3rd quarter worth approximately $26,000. Vista Capital Partners Inc. bought a new stake in Tilray in the 3rd quarter worth approximately $42,000. International Assets Investment Management LLC increased its stake in Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after acquiring an additional 18,208 shares during the last quarter. Capital Management Associates Inc bought a new stake in Tilray in the 3rd quarter worth approximately $45,000. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of Tilray by 58.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after purchasing an additional 11,632 shares during the period. 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.