Tilray (NASDAQ:TLRY) Stock Price Down 3.2% - What's Next?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price fell 3.2% during mid-day trading on Tuesday . The company traded as low as $1.26 and last traded at $1.27. 11,579,669 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 25,541,822 shares. The stock had previously closed at $1.31.

Analyst Ratings Changes

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

Tilray Price Performance

The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -4.70 and a beta of 2.09. The company has a 50-day simple moving average of $1.52 and a two-hundred day simple moving average of $1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The firm 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 business's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) EPS. As a group, equities research analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the firm's stock in a transaction that occurred on 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 acquisition, the chief financial officer now owns 26,000 shares of the company's stock, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On Tilray

Several large investors have recently modified their holdings of TLRY. Synovus Financial Corp grew its stake in Tilray by 176.7% in the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company's stock valued at $64,000 after buying an additional 23,046 shares during the last quarter. Barclays PLC boosted its holdings in shares of Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company's stock worth $359,000 after acquiring an additional 174,997 shares during the period. Toronto Dominion Bank grew its position in shares of Tilray by 454.5% in the third 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 during the last quarter. XTX Topco Ltd increased its stake in shares of Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company's stock worth $495,000 after purchasing an additional 257,641 shares during the period. Finally, State Street Corp lifted its holdings in Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company's stock worth $3,452,000 after purchasing an additional 88,079 shares during the last quarter. 9.35% of the stock is owned by 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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