Tilray (NASDAQ:TLRY) Trading Down 2.1% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 2.1% during trading on Wednesday . The stock traded as low as $1.13 and last traded at $1.15. 16,850,347 shares were traded during trading, a decline of 61% from the average session volume of 43,080,738 shares. The stock had previously closed at $1.17.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Roth Mkm dropped their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company’s fifty day moving average price is $1.31 and its 200 day moving average price is $1.59. The company has a market cap of $1.07 billion, a PE ratio of -3.80 and a beta of 2.08.

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 net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tilray

Several large investors have recently modified their holdings of TLRY. BNP Paribas Financial Markets lifted its stake in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Tilray in the third quarter worth $1,348,000. Bank of Montreal Can raised its stake in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares during the period. 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 valued at $495,000 after buying an additional 257,641 shares during the last quarter. Finally, Barclays PLC increased its holdings in Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after acquiring an additional 174,997 shares during the last quarter. Hedge funds and other 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.