Tidal Investments LLC Sells 1,306,242 Shares of Tilray Inc (NASDAQ:TLRY)

Tidal Investments LLC lowered its stake in shares of Tilray Inc (NASDAQ:TLRY - Free Report) by 11.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,706,178 shares of the company's stock after selling 1,306,242 shares during the period. Tidal Investments LLC owned 1.07% of Tilray worth $17,083,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Tilray by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company's stock valued at $8,707,000 after purchasing an additional 117,891 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Tilray by 209.5% during the first quarter. Cetera Advisors LLC now owns 115,665 shares of the company's stock worth $286,000 after purchasing an additional 78,292 shares during the period. SG Americas Securities LLC lifted its holdings in Tilray by 80.8% during the 2nd quarter. SG Americas Securities LLC now owns 345,240 shares of the company's stock worth $573,000 after buying an additional 154,334 shares during the period. Pallas Capital Advisors LLC acquired a new stake in Tilray during the 2nd quarter valued at approximately $37,000. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Tilray during the second quarter worth approximately $29,000. 9.35% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Carl A. Merton bought 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 completion of the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Tilray Stock Down 4.0 %

Tilray stock traded down $0.05 during midday trading on Thursday, hitting $1.21. 32,047,359 shares of the stock were exchanged, compared to its average volume of 25,716,869. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.48 and a beta of 2.09. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The business's 50-day moving average price is $1.49 and its 200-day moving average price is $1.68. Tilray Inc has a 52-week low of $1.20 and a 52-week high of $2.97.

Tilray (NASDAQ:TLRY - Get Free Report) last released its 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 business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same period last year, the business posted ($0.10) earnings per share. The business's revenue for the quarter was up 13.0% on a year-over-year basis. On average, research analysts expect that Tilray Inc will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report on Tilray

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.

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