Tilray (NASDAQ:TLRY) Stock Price Down 1.1% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 1.1% during mid-day trading on Friday . The stock traded as low as $1.36 and last traded at $1.37. 5,796,186 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 25,428,746 shares. The stock had previously closed at $1.38.

Wall Street Analysts Forecast Growth

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

Tilray Stock Down 2.2 %

The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -5.00 and a beta of 2.14. The stock’s 50 day moving average is $1.65 and its 200 day moving average is $1.77. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $200.00 million for 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 for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm earned ($0.10) EPS. Analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Tilray

A number of institutional investors and hedge funds have recently bought and sold shares of TLRY. Tidal Investments LLC grew its stake in shares of Tilray by 36,687.0% in 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 position in Tilray by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after buying an additional 117,891 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares in the last quarter. State Street Corp lifted its position in shares of Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after acquiring an additional 88,079 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after acquiring an additional 1,690,827 shares in the last quarter. 9.35% of the stock is 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.