Tilray (NASDAQ:TLRY) Stock Price Down 2.2% - Here's Why

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) fell 2.2% during mid-day trading on Wednesday . The company traded as low as $1.28 and last traded at $1.33. 36,453,961 shares traded hands during trading, an increase of 38% from the average session volume of 26,444,244 shares. The stock had previously closed at $1.36.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered their price objective on Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a research note on Friday, October 11th.

Tilray Stock Down 2.2 %

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 company's fifty day moving average price is $1.40 and its 200-day moving average price is $1.63. The stock has a market cap of $1.20 billion, a P/E ratio of -4.93 and a beta of 2.09.

Tilray (NASDAQ:TLRY - Get Free Report) last posted 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 net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same period in the prior year, the company posted ($0.10) EPS. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insider Transactions at Tilray

In related news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company's stock.

Institutional Trading of Tilray

Large investors have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray during the 3rd quarter valued at $26,000. Jeppson Wealth Management LLC bought a new stake in shares of Tilray in the second quarter valued at about $33,000. Vanguard Capital Wealth Advisors purchased a new stake in Tilray in the second quarter worth about $34,000. Vista Capital Partners Inc. purchased a new stake in Tilray in the third quarter worth about $42,000. Finally, International Assets Investment Management LLC grew its holdings in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock worth $42,000 after acquiring an additional 18,208 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company's stock.

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.