Tilray (NASDAQ:TLRY) Shares Down 0.6% After Analyst Downgrade

Shares of Tilray Inc (NASDAQ:TLRY) fell 0.6% during mid-day trading on Friday 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 $1.55 and last traded at $1.58. 7,840,822 shares traded hands during trading, a decline of 69% from the average session volume of 25,248,191 shares. The stock had previously closed at $1.59.

Institutional Investors Weigh In On Tilray

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC increased its stake in shares of Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after purchasing an additional 10,648,403 shares during the last quarter. Vanguard Group Inc. grew its stake in Tilray by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock valued at $8,707,000 after buying an additional 117,891 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Tilray by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock valued at $6,699,000 after buying an additional 213,834 shares in the last quarter. Bank of Montreal Can grew its stake in Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares in the last quarter. Finally, Swiss National Bank grew its stake in Tilray by 3.6% in the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock valued at $3,683,000 after buying an additional 51,700 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Stock Up 2.5 %

The company has a quick ratio of 1.42, a current ratio of 2.27 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $1.75 and its two-hundred day moving average is $1.86.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.01%. The business had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. During the same period in the previous year, the business earned ($0.10) EPS. Tilray’s revenue was up 13.0% compared to the same quarter last year. Sell-side analysts forecast that Tilray Inc will post -0.16 EPS for the current 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.