Tilray (NASDAQ:TLRY) Shares Down 5.2% - What's Next?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) traded down 5.2% during trading on Friday . The stock traded as low as $1.00 and last traded at $1.01. 18,431,789 shares were traded during trading, a decline of 60% from the average session volume of 46,106,742 shares. The stock had previously closed at $1.06.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $2.70.

Tilray Trading Down 2.0 %

The firm has a market cap of $919.37 million, a PE ratio of -3.27 and a beta of 2.07. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company's 50 day moving average price is $1.24 and its two-hundred day moving average price is $1.52.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million during the quarter, compared to analysts' expectations of $216.34 million. Tilray's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Insider Activity

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price 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 represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. purchased a new position in Tilray in the 3rd quarter worth about $26,000. Verdence Capital Advisors LLC purchased a new position in Tilray in the 4th quarter worth about $29,000. International Assets Investment Management LLC increased its stake in Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock worth $42,000 after buying an additional 18,208 shares during the period. Vista Capital Partners Inc. purchased a new position in Tilray in the 3rd quarter worth about $42,000. Finally, Ameritas Advisory Services LLC purchased a new position in Tilray in the 4th quarter worth about $32,000. Hedge funds and other 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.