Tilray (NASDAQ:TLRY) Trading Down 14.7% – Should You Sell?

Tilray Inc (NASDAQ:TLRY) shares fell 14.7% during mid-day trading on Wednesday . The company traded as low as $1.51 and last traded at $1.51. 33,055,565 shares changed hands during trading, an increase of 31% from the average session volume of 25,208,852 shares. The stock had previously closed at $1.77.

Analyst Upgrades and Downgrades

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

Tilray Trading Down 13.0 %

The firm has a fifty day simple moving average of $1.68 and a two-hundred day simple moving average of $1.79. The stock has a market cap of $1.39 billion, a PE ratio of -5.70 and a beta of 2.14. 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 released its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate 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 quarter last year, the firm posted ($0.10) EPS. The company’s revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Large investors have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray during the 3rd quarter valued at about $26,000. HBK Sorce Advisory LLC purchased a new position in shares of Tilray during the 1st quarter valued at about $37,000. Prospect Financial Services LLC purchased a new position in shares of Tilray during the 2nd quarter valued at about $26,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Tilray during the 2nd quarter valued at about $29,000. Finally, Essex LLC purchased a new position in shares of Tilray during the 1st quarter valued at about $49,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.