Tilray (NASDAQ:TLRY) Stock Price Down 1.6% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price was down 1.6% during mid-day trading on Wednesday . The company traded as low as $1.21 and last traded at $1.22. Approximately 6,950,896 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 25,755,107 shares. The stock had previously closed at $1.24.

Wall Street Analysts Forecast Growth

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

Tilray Stock Up 0.2 %

The firm has a 50-day simple moving average of $1.45 and a two-hundred day simple moving average of $1.66. The stock has a market cap of $1.05 billion, a P/E ratio of -4.31 and a beta of 2.08. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. Equities research analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal 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 shares were bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TLRY. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray in the third quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC acquired a new position in Tilray in the 2nd quarter valued at approximately $29,000. Jeppson Wealth Management LLC bought a new position in shares of Tilray during the second quarter valued at $33,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Tilray during the second quarter worth $34,000. Finally, International Assets Investment Management LLC grew its stake in shares of 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 purchasing an additional 18,208 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.