Tilray (NASDAQ:TLRY) Shares Down 0.2% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price fell 0.2% during trading on Thursday . The stock traded as low as $1.66 and last traded at $1.68. 8,909,557 shares were traded during mid-day trading, a decline of 64% from the average session volume of 25,071,973 shares. The stock had previously closed at $1.68.

Analyst Ratings Changes

Separately, Roth Mkm decreased their price target 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 Price Performance

The firm has a market capitalization of $1.27 billion, a PE ratio of -3.73 and a beta of 2.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The business's 50 day moving average is $1.71 and its two-hundred day moving average is $1.80.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same period in the previous year, the firm posted ($0.10) EPS. The firm's revenue was up 13.0% compared to the same quarter last year. As a group, research analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Tilray

Large investors have recently modified their holdings of the company. Madrona Financial Services LLC bought a new position in Tilray during the first quarter valued at approximately $124,000. SpiderRock Advisors LLC bought a new stake in Tilray during the 1st quarter valued at $247,000. Private Advisor Group LLC raised its holdings in Tilray by 7.3% during the 1st quarter. Private Advisor Group LLC now owns 175,845 shares of the company's stock valued at $434,000 after buying an additional 12,021 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Tilray by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company's stock valued at $6,699,000 after buying an additional 213,834 shares during the period. Finally, Capstone Investment Advisors LLC grew its holdings in Tilray by 320.9% in the 1st quarter. Capstone Investment Advisors LLC now owns 95,736 shares of the company's stock worth $236,000 after acquiring an additional 72,989 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.