Tilray (NASDAQ:TLRY) Shares Down 5.4%

Shares of Tilray Inc (NASDAQ:TLRY) traded down 5.4% on Monday . The stock traded as low as $15.65 and last traded at $16.01, 3,517,920 shares traded hands during trading. A decline of 19% from the average session volume of 4,326,644 shares. The stock had previously closed at $16.92.

Several research analysts recently weighed in on the company. MKM Partners reduced their price target on Tilray from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Roth Capital restated a “hold” rating on shares of Tilray in a research report on Thursday, December 12th. Bank of America assumed coverage on Tilray in a research report on Monday, January 13th. They issued a “neutral” rating and a $18.00 price objective for the company. Benchmark restated a “buy” rating and issued a $40.00 price objective (down from $80.00) on shares of Tilray in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald assumed coverage on Tilray in a research report on Monday, November 4th. They issued a “neutral” rating and a $20.00 price objective for the company. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. Tilray presently has an average rating of “Hold” and an average target price of $41.33.

The company has a debt-to-equity ratio of 1.05, a current ratio of 2.54 and a quick ratio of 1.69. The stock has a 50 day moving average price of $17.86 and a 200-day moving average price of $24.47. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -11.69 and a beta of 3.87.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.05). The firm had revenue of $51.10 million during the quarter, compared to analyst estimates of $49.57 million. Tilray had a negative return on equity of 40.30% and a negative net margin of 97.39%. The business’s revenue was up 411.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) earnings per share. As a group, research analysts forecast that Tilray Inc will post -1.46 earnings per share for the current year.

In other news, Director Michael Auerbach sold 31,875 shares of Tilray stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $19.05, for a total value of $607,218.75. Following the sale, the director now directly owns 31,875 shares of the company’s stock, valued at $607,218.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brendan Kennedy sold 100,000 shares of Tilray stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $18.30, for a total value of $1,830,000.00. Following the completion of the sale, the chief executive officer now directly owns 153,303 shares in the company, valued at $2,805,444.90. The disclosure for this sale can be found here. Insiders sold 231,875 shares of company stock worth $4,077,219 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Tilray during the third quarter worth $3,556,000. Vanguard Group Inc. acquired a new position in Tilray during the second quarter worth $3,484,000. Commerzbank Aktiengesellschaft FI boosted its stake in Tilray by 37.9% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 66,878 shares of the company’s stock worth $1,146,000 after buying an additional 18,381 shares during the last quarter. Swiss National Bank boosted its stake in Tilray by 4.0% during the fourth quarter. Swiss National Bank now owns 46,500 shares of the company’s stock worth $797,000 after buying an additional 1,800 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in Tilray by 46.4% during the fourth quarter. Virtu Financial LLC now owns 40,312 shares of the company’s stock worth $690,000 after buying an additional 12,784 shares during the last quarter. 8.61% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Company Profile (NASDAQ:TLRY)

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 Nanaimo, Canada.

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