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

Tilray Inc (NASDAQ:TLRY)’s share price was down 4% on Friday . The company traded as low as $1.15 and last traded at $1.16. Approximately 14,579,097 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 25,663,227 shares. The stock had previously closed at $1.21.

Analyst Ratings Changes

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

Tilray Stock Performance

The stock has a market capitalization of $1.07 billion, a P/E ratio of -4.41 and a beta of 2.08. The stock has a 50 day simple moving average of $1.48 and a two-hundred day simple moving average of $1.67. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

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

Insider Activity

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Synovus Financial Corp lifted its holdings in Tilray by 176.7% during the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock valued at $64,000 after purchasing an additional 23,046 shares during the last quarter. Barclays PLC raised its position in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares during the period. Toronto Dominion Bank lifted its stake in shares of Tilray by 454.5% during the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock worth $227,000 after buying an additional 105,671 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after buying an additional 257,641 shares during the period. Finally, State Street Corp grew its stake in 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 buying an additional 88,079 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.