Tilray (NASDAQ:TLRY) Stock Price Down 2.6% – Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY) dropped 2.6% during trading on Monday . The company traded as low as $1.30 and last traded at $1.32. Approximately 7,440,839 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 25,435,211 shares. The stock had previously closed at $1.35.

Analyst Ratings Changes

Separately, Roth Mkm dropped their target price on shares of 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 3.7 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -4.87 and a beta of 2.14. The business’s 50-day moving average price is $1.65 and its two-hundred day moving average price is $1.76.

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

Insider Buying and Selling

In other news, CFO Carl A. Merton bought 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $1.36 per share, for a total transaction 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 trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. bought a new position in Tilray in the third quarter worth about $26,000. Prospect Financial Services LLC purchased a new position in Tilray during the second quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the 2nd quarter valued at approximately $29,000. Jeppson Wealth Management LLC bought a new stake in shares of Tilray in the second quarter worth about $33,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Tilray during the 2nd quarter valued at about $37,000. 9.35% of the stock is currently owned by 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.