Tilray (NASDAQ:TLRY) Shares Down 4% – Here’s Why

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

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

The stock has a market cap of $1.07 billion, a P/E ratio of -4.41 and a beta of 2.08. The stock has a fifty day simple moving average of $1.48 and a 200-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 quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. During the same quarter last year, the firm earned ($0.10) EPS. Tilray’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the 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 completion of the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several institutional investors have recently modified their holdings of TLRY. BNP Paribas Financial Markets raised its holdings in Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Tilray during the third quarter worth $1,348,000. Bank of Montreal Can increased its position in shares of Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after acquiring an additional 355,778 shares in the last quarter. Creative Planning raised its holdings in shares of Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after acquiring an additional 38,054 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Tilray by 11.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock valued at $1,131,000 after acquiring an additional 70,605 shares in the last quarter. Institutional investors 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.