Tilray (NASDAQ:TLRY) Shares Down 5.1% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price traded down 5.1% during trading on Friday . The stock traded as low as $0.44 and last traded at $0.44. 5,821,883 shares were traded during mid-day trading, a decline of 83% from the average session volume of 34,593,969 shares. The stock had previously closed at $0.46.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Roth Capital reiterated a "neutral" rating on shares of Tilray in a research note on Monday, April 14th. Piper Sandler lowered their price objective on Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th.

Tilray Stock Performance

The company has a market capitalization of $409.74 million, a price-to-earnings ratio of -1.36 and a beta of 1.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The stock has a 50 day simple moving average of $0.49 and a two-hundred day simple moving average of $0.88.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $185.78 million for the quarter, compared to analysts' expectations of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. As a group, analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Lido Advisors LLC purchased a new stake in Tilray in the fourth quarter valued at $28,000. Verdence Capital Advisors LLC purchased a new stake in shares of Tilray in the fourth quarter valued at approximately $29,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray in the fourth quarter valued at about $29,000. Cerity Partners LLC purchased a new stake in Tilray during the first quarter worth about $31,000. Finally, Capital Management Associates Inc grew its position in Tilray by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after buying an additional 25,380 shares during the period. 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.