Tilray (NASDAQ:TLRY) Stock Price Down 4% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares fell 4% on Friday . The stock traded as low as $1.15 and last traded at $1.16. 14,579,097 shares traded hands during trading, a decline of 43% from the average session volume of 25,663,227 shares. The stock had previously closed at $1.21.

Analyst Ratings Changes

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

Tilray Stock Down 1.7 %

The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $1.49 and a 200-day simple moving average of $1.68. The stock has a market cap of $1.07 billion, a P/E ratio of -4.30 and a beta of 2.08.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. The business's quarterly revenue was up 13.0% on a year-over-year basis. Analysts expect that Tilray Inc will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton purchased 26,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were purchased 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 $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.87% of the company's stock.

Institutional Trading of Tilray

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Tilray in the 3rd quarter valued at about $1,348,000. Bank of Montreal Can lifted its holdings in shares of Tilray by 19.6% during the 2nd 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 during the last quarter. Creative Planning increased its position in shares of Tilray by 36.6% during the 3rd quarter. Creative Planning now owns 141,921 shares of the company's stock valued at $250,000 after purchasing an additional 38,054 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company's stock valued at $1,131,000 after buying an additional 70,605 shares during the period. 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.

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