Tilray (NASDAQ:TLRY) Trading Down 1.6% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) fell 1.6% during mid-day trading on Wednesday . The stock traded as low as $1.21 and last traded at $1.22. 6,950,896 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 25,755,107 shares. The stock had previously closed at $1.24.

Wall Street Analyst Weigh In

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

Tilray Stock Performance

The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.41 and a beta of 2.08. The stock has a 50 day moving average of $1.46 and a 200 day moving average of $1.66. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same period in the prior year, the firm posted ($0.10) EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction dated 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 transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

A number of large investors have recently bought and sold shares of TLRY. Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray during the 3rd quarter worth about $26,000. Signature Estate & Investment Advisors LLC acquired a new position in Tilray during the second quarter worth $29,000. Jeppson Wealth Management LLC bought a new stake in shares of Tilray during the second quarter worth about $33,000. Pallas Capital Advisors LLC bought a new stake in shares of Tilray during the second quarter worth about $37,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in Tilray during the 2nd quarter valued at about $34,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.