Tilray (NASDAQ:TLRY) Stock Price Down 1.4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares dropped 1.4% during trading on Tuesday . The stock traded as low as $1.08 and last traded at $1.09. Approximately 12,897,415 shares changed hands during trading, a decline of 69% from the average daily volume of 41,539,746 shares. The stock had previously closed at $1.10.

Wall Street Analyst Weigh In

TLRY has been the topic of several research analyst reports. Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Roth Mkm decreased their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Up 8.7 %

The business’s fifty day moving average is $1.28 and its 200 day moving average is $1.56. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -3.77 and a beta of 2.08. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s revenue was up 8.7% on a year-over-year basis. Equities analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Activity

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction 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 trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

A number of institutional investors have recently added to or reduced their stakes in TLRY. Bank of Montreal Can raised its stake in Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after buying an additional 355,778 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Tilray by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after purchasing an additional 70,605 shares during the period. Algert Global LLC acquired a new stake in Tilray in the second quarter worth $130,000. Sanctuary Advisors LLC acquired a new stake in Tilray in the second quarter worth $65,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Tilray by 54.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 52,067 shares of the company’s stock valued at $86,000 after buying an additional 18,423 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.