Tilray (NASDAQ:TLRY) Trading Down 1.3% – Should You Sell?

Tilray Inc (NASDAQ:TLRY) was down 1.3% on Thursday . The company traded as low as $1.11 and last traded at $1.12. Approximately 10,779,707 shares changed hands during trading, a decline of 74% from the average daily volume of 42,243,230 shares. The stock had previously closed at $1.13.

Analyst Ratings Changes

A number of research firms have recently issued reports on TLRY. Canaccord Genuity Group increased their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Roth Mkm cut their target price on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Performance

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -3.80 and a beta of 2.08. The business has a 50-day moving average price of $1.30 and a 200-day moving average price of $1.58.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Tilray

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

Hedge Funds Weigh In On Tilray

A number of large investors have recently bought and sold shares of TLRY. Wealth Enhancement Advisory Services LLC raised its position in Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after purchasing an additional 7,339 shares during the period. Bank of Montreal Can lifted its position in Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Tilray by 58.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after acquiring an additional 11,632 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray during the 3rd quarter worth approximately $26,000. Finally, KBC Group NV increased its holdings in Tilray by 75.9% in the 4th quarter. KBC Group NV now owns 38,332 shares of the company’s stock valued at $51,000 after purchasing an additional 16,539 shares during the last quarter. Institutional investors and hedge funds 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.