Tilray (NASDAQ:TLRY) Shares Down 5.2% – What’s Next?

Tilray Inc (NASDAQ:TLRY) traded down 5.2% during mid-day trading on Friday . The company traded as low as $1.00 and last traded at $1.01. 18,431,789 shares changed hands during trading, a decline of 60% from the average session volume of 46,106,742 shares. The stock had previously closed at $1.06.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Roth Mkm lowered their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Down 5.7 %

The stock has a market capitalization of $937.66 million, a P/E ratio of -3.33 and a beta of 2.07. 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 business has a 50-day moving average price of $1.24 and a two-hundred day moving average price of $1.53.

Tilray (NASDAQ:TLRY) last announced 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). The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Hedge funds have recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the third quarter worth about $26,000. Verdence Capital Advisors LLC bought a new stake in shares of Tilray in the fourth quarter valued at approximately $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tilray during the 4th quarter valued at approximately $32,000. Newman Dignan & Sheerar Inc. grew its stake in Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after buying an additional 10,000 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after acquiring an additional 18,208 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.