Tilray (NASDAQ:TLRY) Stock Price Down 2.7% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) was down 2.7% during trading on Thursday . The company traded as low as $1.63 and last traded at $1.65. Approximately 4,849,058 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 24,990,779 shares. The stock had previously closed at $1.69.

Analyst Upgrades and Downgrades

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

Tilray Price Performance

The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -6.07 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. The business has a 50 day moving average price of $1.69 and a 200-day moving average price of $1.79.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $200.00 million for the quarter, compared to the consensus estimate 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 was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) EPS. Research analysts predict that Tilray Inc will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC raised its stake in Tilray by 7.3% during the 1st quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock worth $434,000 after buying an additional 12,021 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tilray by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after purchasing an additional 213,834 shares during the last quarter. Capstone Investment Advisors LLC raised its stake in shares of Tilray by 320.9% in the first quarter. Capstone Investment Advisors LLC now owns 95,736 shares of the company’s stock worth $236,000 after purchasing an additional 72,989 shares during the last quarter. CapWealth Advisors LLC raised its stake in shares of Tilray by 12.5% in the first quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock worth $222,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Essex LLC bought a new position in shares of Tilray in the first quarter valued at approximately $49,000. 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.