Tilray (NASDAQ:TLRY) Trading Down 2.1% – Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY) fell 2.1% during trading on Wednesday . The company traded as low as $1.13 and last traded at $1.15. 16,850,347 shares changed hands during trading, a decline of 61% from the average session volume of 43,080,738 shares. The stock had previously closed at $1.17.

Analysts Set New Price Targets

Several research firms have recently issued reports on TLRY. Roth Mkm lowered their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group upped their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 1.8 %

The stock has a 50-day moving average price of $1.31 and a 200-day moving average price of $1.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company has a market capitalization of $1.07 billion, a P/E ratio of -3.80 and a beta of 2.08.

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

Insider Activity at Tilray

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. BNP Paribas Financial Markets increased its stake in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after acquiring an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Tilray in the third quarter worth $1,348,000. Bank of Montreal Can increased its stake in Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares in the last quarter. XTX Topco Ltd increased its stake in Tilray by 1,079.7% in the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after purchasing an additional 257,641 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares during the period. 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.