Tilray Inc (NASDAQ:TLRY)’s share price fell 8.9% during trading on Friday . The company traded as low as $97.00 and last traded at $109.05. 16,572,771 shares traded hands during mid-day trading, an increase of 119% from the average session volume of 7,572,819 shares. The stock had previously closed at $119.76.

Several equities research analysts have commented on the stock. Northland Securities downgraded shares of Tilray from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 6th. Roth Capital downgraded shares of Tilray from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 29th. They noted that the move was a valuation call. Finally, Cowen assumed coverage on shares of Tilray in a research note on Monday, August 13th. They issued an “outperform” rating and a $34.00 target price for the company.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Tuesday, August 28th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.08). The firm had revenue of $9.70 million for the quarter, compared to the consensus estimate of $9.01 million. The firm’s quarterly revenue was up 94.0% on a year-over-year basis. analysts expect that Tilray Inc will post -0.45 EPS for the current year.

In related news, insider Brendan Kennedy acquired 14,706 shares of the stock in a transaction dated Monday, July 23rd. The stock was bought at an average price of $17.00 per share, with a total value of $250,002.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Edward Wood Pastorius, Jr. acquired 14,705 shares of the stock in a transaction dated Monday, July 23rd. The shares were bought at an average cost of $17.00 per share, with a total value of $249,985.00. The disclosure for this purchase can be found here.

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 was incorporated in 2018 and is headquartered in Nanaimo, Canada.

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