Tilray (NASDAQ:TLRY) Stock Price Down 2.1% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price fell 2.1% during mid-day trading on Tuesday . The company traded as low as $1.17 and last traded at $1.18. 9,745,797 shares changed hands during trading, a decline of 77% from the average session volume of 41,694,473 shares. The stock had previously closed at $1.20.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Roth Mkm reduced their price target 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The firm has a market cap of $1.10 billion, a PE ratio of -3.92 and a beta of 2.08. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.60.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray’s revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently bought and sold shares of TLRY. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tilray by 22.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after acquiring an additional 7,339 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares during the period. Pallas Capital Advisors LLC increased its position in shares of Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after purchasing an additional 11,632 shares during the last quarter. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the 3rd quarter valued at $26,000. Finally, International Assets Investment Management LLC lifted its position in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares during the last quarter. Hedge funds and other 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.