Tilray (NASDAQ:TLRY) Stock Price Down 1.7% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price was down 1.7% on Wednesday . The company traded as low as $1.44 and last traded at $1.45. Approximately 8,344,378 shares traded hands during trading, a decline of 67% from the average daily volume of 25,443,896 shares. The stock had previously closed at $1.47.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their target price 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.

Tilray Trading Down 4.1 %

The business has a fifty day simple moving average of $1.66 and a 200-day simple moving average of $1.78. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the prior year, the business earned ($0.10) EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Institutional Trading of Tilray

A number of large investors have recently modified their holdings of TLRY. Prospect Financial Services LLC bought a new stake in shares of Tilray during the 2nd quarter valued at about $26,000. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray in the 3rd quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC bought a new stake in Tilray in the 2nd quarter worth approximately $29,000. Jeppson Wealth Management LLC bought a new stake in Tilray in the 2nd quarter worth approximately $33,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in Tilray in the 2nd quarter worth approximately $34,000. 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.