Tilray (NASDAQ:TLRY) Trading Down 4% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s share price traded down 4% during mid-day trading on Tuesday . The company traded as low as $0.93 and last traded at $0.94. 19,908,105 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 48,111,836 shares. The stock had previously closed at $0.98.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Tilray has an average rating of “Hold” and an average price target of $2.70.

Tilray Trading Down 4.8 %

The company has a fifty day moving average of $1.24 and a 200-day moving average of $1.52. 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 company has a market capitalization of $874.84 million, a price-to-earnings ratio of -3.12 and a beta of 2.07.

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

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, 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 available at this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently made changes to their positions in TLRY. Bank of Montreal Can increased its stake in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after buying an additional 7,406 shares during the period. State Street Corp increased its holdings in shares of Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after acquiring an additional 88,079 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the period. Swiss National Bank lifted its position in Tilray by 10.2% during the 4th quarter. Swiss National Bank now owns 1,776,638 shares of the company’s stock worth $2,363,000 after acquiring an additional 164,600 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tilray by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.