Tilray (NASDAQ:TLRY) Stock Price Down 11.7% After Earnings Miss

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 11.7% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $1.18 and last traded at $1.21. 30,487,819 shares were traded during mid-day trading, a decline of 33% from the average session volume of 45,809,570 shares. The stock had previously closed at $1.37.

The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th.

Insider Transactions at Tilray

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Tilray in the third quarter worth $1,348,000. Bank of Montreal Can boosted its position in Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares during the period. XTX Topco Ltd grew its stake in shares of Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after buying an additional 257,641 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after buying an additional 174,997 shares during the period. 9.35% of the stock is currently owned by institutional investors.

Tilray Stock Performance

The business has a 50 day moving average price of $1.37 and a two-hundred day moving average price of $1.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company has a market cap of $1.11 billion, a P/E ratio of -4.56 and a beta of 2.08.

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.