Tilray (NASDAQ:TLRY) Shares Gap Down – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) gapped down before the market opened on Wednesday . The stock had previously closed at $1.24, but opened at $1.21. Tilray shares last traded at $1.23, with a volume of 3,448,288 shares changing hands.

Analyst Ratings Changes

Separately, Roth Mkm decreased their price target on shares of 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 firm has a fifty day simple moving average of $1.46 and a 200 day simple moving average of $1.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -4.52 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. On average, sell-side analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the 3rd quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC bought a new position in Tilray in the second quarter valued at $29,000. Jeppson Wealth Management LLC acquired a new stake in Tilray in the 2nd quarter valued at $33,000. Vanguard Capital Wealth Advisors bought a new stake in Tilray during the 2nd quarter worth about $34,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Tilray in the 2nd quarter valued at about $37,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.