Tilray (NASDAQ:TLRY) Shares Down 0.8% – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) fell 0.8% during trading on Wednesday . The stock traded as low as $1.28 and last traded at $1.30. 8,541,022 shares were traded during mid-day trading, a decline of 66% from the average session volume of 25,445,021 shares. The stock had previously closed at $1.31.

Analysts Set New Price Targets

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

Tilray Stock Performance

The firm has a 50 day moving average price of $1.63 and a 200 day moving average price of $1.75. The stock has a market cap of $1.17 billion, a PE ratio of -4.75 and a beta of 2.14. 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 issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the prior year, the business posted ($0.10) EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, research analysts forecast that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tilray

A number of institutional investors and hedge funds have recently bought and sold shares of TLRY. Prospect Financial Services LLC acquired a new stake in Tilray in the 2nd quarter valued at about $26,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray in the third quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Tilray in the second quarter valued at approximately $29,000. Jeppson Wealth Management LLC acquired a new stake in shares of Tilray in the second quarter valued at approximately $33,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in Tilray during the second quarter worth approximately $34,000. 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.