Tilray (NASDAQ:TLRY) Trading Down 2.2% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price traded down 2.2% during mid-day trading on Monday . The company traded as low as $1.11 and last traded at $1.12. 10,951,973 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 41,894,934 shares. The stock had previously closed at $1.14.

Analyst Ratings Changes

Several brokerages have commented on TLRY. Canaccord Genuity Group boosted their target price on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Roth Mkm lowered their price objective on shares of Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Tilray currently has an average rating of "Hold" and a consensus price target of $2.70.

Tilray Stock Down 3.9 %

The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -3.65 and a beta of 2.08. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $1.30 and a 200 day moving average price of $1.58.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The company's revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock valued at $3,202,000 after acquiring an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Tilray in the 3rd quarter worth approximately $1,348,000. Bank of Montreal Can boosted its stake in shares of 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 purchasing an additional 355,778 shares during the last quarter. Creative Planning increased its position in shares of Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company's stock worth $250,000 after buying an additional 38,054 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company's stock worth $1,131,000 after buying an additional 70,605 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

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.