Tilray (NASDAQ:TLRY) Trading Down 4.3% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price traded down 4.3% during mid-day trading on Monday . The company traded as low as $0.97 and last traded at $1.01. 21,987,405 shares were traded during trading, a decline of 48% from the average session volume of 42,106,961 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their price objective on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Roth Mkm lowered their price target on shares of Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $2.70.

Tilray Stock Down 5.7 %

The company has a market cap of $937.66 million, a price-to-earnings ratio of -3.33 and a beta of 2.07. The stock has a 50-day simple moving average of $1.24 and a 200-day simple moving average of $1.53. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Insider Activity

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.87% of the company's stock.

Institutional Trading of Tilray

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in shares of Tilray by 11.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company's stock valued at $1,131,000 after purchasing an additional 70,605 shares during the period. Algert Global LLC purchased a new position in shares of Tilray in the second quarter worth approximately $130,000. Sanctuary Advisors LLC acquired a new stake in shares of Tilray during the second quarter valued at approximately $65,000. Creative Planning lifted its position in shares of Tilray by 36.6% in the 3rd quarter. Creative Planning now owns 141,921 shares of the company's stock valued at $250,000 after acquiring an additional 38,054 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its position in shares of Tilray by 253.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 39,074 shares of the company's stock valued at $69,000 after acquiring an additional 28,022 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.