Tilray (NASDAQ:TLRY) Stock Price Down 1.7% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report) fell 1.7% during trading on Wednesday . The stock traded as low as $1.44 and last traded at $1.45. 8,344,378 shares changed hands during trading, a decline of 67% from the average session volume of 25,443,896 shares. The stock had previously closed at $1.47.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their price target 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 Down 4.1 %

The stock has a 50-day moving average price of $1.66 and a 200-day moving average price of $1.78. 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 announced its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.04). The company had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. As a group, equities research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

A number of large investors have recently made changes to their positions in TLRY. Tidal Investments LLC increased its stake in Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company's stock worth $26,373,000 after acquiring an additional 10,648,403 shares during the period. Vanguard Group Inc. increased its stake in Tilray by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company's stock worth $8,707,000 after acquiring an additional 117,891 shares during the period. Bank of Montreal Can lifted its holdings in shares of Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock worth $3,787,000 after acquiring an additional 7,406 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Tilray by 3.6% in the first quarter. Swiss National Bank now owns 1,490,938 shares of the company's stock worth $3,683,000 after acquiring an additional 51,700 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Tilray by 2.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company's stock worth $2,617,000 after acquiring an additional 37,300 shares during the last quarter. 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.

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