Tilray (NASDAQ:TLRY) Trading Down 3.7% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s share price was down 3.7% during trading on Thursday . The company traded as low as $0.91 and last traded at $0.91. Approximately 16,658,641 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 47,119,441 shares. The stock had previously closed at $0.95.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.70.

Tilray Trading Down 0.6 %

The company’s fifty day moving average is $1.22 and its 200-day moving average is $1.51. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $885.15 million, a P/E ratio of -3.14 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the 3rd quarter valued at about $26,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray during the 4th quarter valued at about $29,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray during the 4th quarter valued at about $29,000. International Assets Investment Management LLC boosted its position in shares of Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after acquiring an additional 18,208 shares in the last quarter. Finally, Vista Capital Partners Inc. acquired a new stake in shares of Tilray during the 3rd quarter valued at about $42,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.