Tilray (NASDAQ:TLRY) Shares Down 3.4% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) fell 3.4% during mid-day trading on Friday . The stock traded as low as $1.42 and last traded at $1.43. 20,938,324 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 26,251,064 shares. The stock had previously closed at $1.48.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th.

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company has a market cap of $1.29 billion, a PE ratio of -5.30 and a beta of 2.08. The company’s 50 day moving average price is $1.42 and its 200-day moving average price is $1.64.

Tilray (NASDAQ:TLRY) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same period last year, the business posted ($0.10) earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently made changes to their positions in TLRY. BNP Paribas Financial Markets boosted its stake in Tilray by 1,314.1% in the 3rd 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 period. Point72 Asset Management L.P. bought a new position in shares of Tilray in the third quarter valued at approximately $1,348,000. Bank of Montreal Can grew its stake in 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. XTX Topco Ltd increased its holdings in Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after acquiring an additional 257,641 shares during the period. Finally, Barclays PLC lifted its stake in Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.