Tilray (NASDAQ:TLRY) Stock Price Down 4.2% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report) was down 4.2% during mid-day trading on Monday . The stock traded as low as $1.42 and last traded at $1.43. Approximately 14,298,822 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 25,324,547 shares. The stock had previously closed at $1.49.

Wall Street Analysts Forecast Growth

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

Tilray Trading Down 5.2 %

The firm's 50-day simple moving average is $1.67 and its 200 day simple moving average is $1.78. The stock has a market cap of $1.28 billion, a P/E ratio of -5.29 and a beta of 2.14. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

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, meeting the consensus estimate of ($0.04). The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. As a group, equities research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current year.

Institutional Trading of Tilray

A number of hedge funds have recently modified their holdings of TLRY. Wealth Enhancement Advisory Services LLC boosted its stake in Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company's stock valued at $70,000 after acquiring an additional 7,339 shares during the last quarter. Arizona State Retirement System grew its position in shares of Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company's stock valued at $360,000 after purchasing an additional 9,171 shares during the period. Pallas Capital Advisors LLC raised its holdings in Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company's stock worth $52,000 after buying an additional 11,632 shares during the period. Private Advisor Group LLC increased its stake in shares of Tilray by 7.3% during the 1st quarter. Private Advisor Group LLC now owns 175,845 shares of the company's stock worth $434,000 after purchasing an additional 12,021 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new position in Tilray during the third quarter worth $26,000. 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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