Tilray (NASDAQ:TLRY) Stock Price Down 1.2% on Analyst Downgrade

Tilray Inc (NASDAQ:TLRY)’s share price traded down 1.2% on Monday after Roth Mkm lowered their price target on the stock from $2.00 to $1.75. Roth Mkm currently has a neutral rating on the stock. Tilray traded as low as $1.57 and last traded at $1.61. 9,479,634 shares changed hands during trading, a decline of 62% from the average session volume of 25,246,178 shares. The stock had previously closed at $1.63.

Institutional Trading of Tilray

Large investors have recently modified their holdings of the business. Bank of Montreal Can grew its stake in shares of Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after acquiring an additional 355,778 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Tilray in the first quarter worth about $118,000. Avantax Advisory Services Inc. grew its stake in Tilray by 46.2% in the first quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company’s stock worth $131,000 after purchasing an additional 16,792 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Tilray in the first quarter worth about $75,000. Finally, CIBC Asset Management Inc grew its stake in Tilray by 13.3% in the second quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock worth $1,445,000 after purchasing an additional 102,316 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Stock Down 2.5 %

The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -6.02 and a beta of 2.13. The stock has a 50 day moving average of $1.75 and a 200 day moving average of $1.85. The company has a quick ratio of 1.42, a current ratio of 2.27 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates 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 return on equity of 2.01% and a negative net margin of 26.79%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) earnings per share. As a group, analysts expect that Tilray Inc will post -0.16 earnings per share for the current fiscal year.

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.