Tilray (NASDAQ:TLRY) Shares Down 2.6% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price traded down 2.6% during mid-day trading on Monday . The company traded as low as $1.30 and last traded at $1.32. 7,440,839 shares traded hands during trading, a decline of 71% from the average session volume of 25,435,211 shares. The stock had previously closed at $1.35.

Analyst Ratings Changes

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

Tilray Stock Performance

The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -4.87 and a beta of 2.14. The stock's 50-day moving average is $1.65 and its 200-day moving average is $1.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $200.00 million during 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%. Tilray's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. Analysts anticipate that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares of the company's stock, valued at approximately $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in Tilray by 36,687.0% in the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company's stock worth $26,373,000 after purchasing an additional 10,648,403 shares during the last quarter. BNP Paribas Financial Markets raised its stake 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 valued at $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Tilray during the third quarter valued at about $1,348,000. Bank of Montreal Can raised its stake in 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. Finally, XTX Topco Ltd increased its position in shares of Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company's stock worth $495,000 after purchasing an additional 257,641 shares in the last quarter. 9.35% of the stock is currently 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.

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