Tilray (NASDAQ:TLRY) Stock Price Down 11.7% After Earnings Miss

Tilray Inc (NASDAQ:TLRY - Get Free Report) was down 11.7% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $1.18 and last traded at $1.21. Approximately 30,487,819 shares were traded during trading, a decline of 33% from the average daily volume of 45,809,570 shares. The stock had previously closed at $1.37.

The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business's quarterly revenue was up 8.7% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped 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.

Insider Activity

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of Tilray

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Tilray by 32.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company's stock valued at $760,000 after purchasing an additional 105,803 shares in the last quarter. Synovus Financial Corp increased its stake 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 in the last quarter. Barclays PLC increased its stake in Tilray by 600.4% during the 3rd quarter. Barclays PLC now owns 204,144 shares of the company's stock valued at $359,000 after purchasing an additional 174,997 shares in the last quarter. Toronto Dominion Bank increased its stake in Tilray by 454.5% during the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company's stock valued at $227,000 after purchasing an additional 105,671 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company's stock valued at $495,000 after purchasing an additional 257,641 shares in the last quarter. Institutional investors own 9.35% of the company's stock.

Tilray Stock Down 10.2 %

The firm has a market cap of $1.11 billion, a P/E ratio of -4.56 and a beta of 2.08. The stock's 50 day simple moving average is $1.37 and its 200 day simple moving average is $1.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

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.