Tilray (NASDAQ:TLRY) Stock Price Down 0.3% – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) fell 0.3% during mid-day trading on Tuesday . The company traded as low as $1.71 and last traded at $1.73. 9,844,903 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 25,113,730 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their target price 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 market cap of $1.40 billion, a P/E ratio of -5.61 and a beta of 2.14. The business’s 50 day simple moving average is $1.68 and its 200 day simple moving average is $1.79. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

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 the consensus estimate of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) earnings per share. Sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TLRY. Prospect Financial Services LLC bought a new stake in shares of Tilray in the 2nd quarter worth about $26,000. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the third quarter worth $26,000. Signature Estate & Investment Advisors LLC bought a new stake in Tilray during the second quarter valued at about $29,000. Jeppson Wealth Management LLC bought a new stake in shares of Tilray in the 2nd quarter valued at about $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in Tilray in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.