Tilray (NASDAQ:TLRY) Stock Price Down 0.7% – What’s Next?

Tilray Inc (NASDAQ:TLRY) dropped 0.7% during trading on Friday . The company traded as low as $1.35 and last traded at $1.36. Approximately 3,073,291 shares changed hands during trading, a decline of 88% from the average daily volume of 25,418,588 shares. The stock had previously closed at $1.37.

Analyst Upgrades and Downgrades

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

Tilray Stock Down 2.2 %

The stock’s fifty day simple moving average is $1.57 and its two-hundred day simple moving average is $1.72. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -4.96 and a beta of 2.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. On average, sell-side analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Tilray by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after acquiring an additional 117,891 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Tilray during the 1st quarter worth approximately $118,000. California State Teachers Retirement System raised its stake in Tilray by 4.4% during the 1st quarter. California State Teachers Retirement System now owns 678,990 shares of the company’s stock valued at $1,677,000 after purchasing an additional 28,586 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Tilray by 209.5% in the first quarter. Cetera Advisors LLC now owns 115,665 shares of the company’s stock valued at $286,000 after purchasing an additional 78,292 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Tilray by 80.8% in the second quarter. SG Americas Securities LLC now owns 345,240 shares of the company’s stock worth $573,000 after buying an additional 154,334 shares during the period. Institutional investors and hedge funds 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.