Tilray (NASDAQ:TLRY) Stock Price Down 5.5% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares were down 5.5% on Thursday . The company traded as low as $1.34 and last traded at $1.37. Approximately 51,758,249 shares traded hands during trading, an increase of 5% from the average daily volume of 49,491,785 shares. The stock had previously closed at $1.45.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Stock Performance

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -5.07 and a beta of 2.08. The stock has a 50 day moving average of $1.38 and a 200 day moving average of $1.62. 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 posted its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, analysts anticipate that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction dated 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 purchase, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its holdings in Tilray by 0.3% in the 3rd 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 during the last quarter. State Street Corp raised its holdings in Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after purchasing an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in 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 purchasing an additional 1,690,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tilray by 6.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Tilray by 2.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock worth $2,617,000 after purchasing an additional 37,300 shares during the last quarter. 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.