Tilray (NASDAQ:TLRY) Stock Price Down 5.2% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 5.2% during trading on Thursday . The stock traded as low as $0.68 and last traded at $0.68. 8,478,878 shares changed hands during trading, a decline of 81% from the average session volume of 45,182,949 shares. The stock had previously closed at $0.72.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three equities research 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, Tilray currently has an average rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The company has a market cap of $650.45 million, a price-to-earnings ratio of -2.31 and a beta of 2.13. 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 company’s fifty day moving average price is $1.05 and its two-hundred day moving average price is $1.38.

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 business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Tilray’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray

A number of institutional investors have recently made changes to their positions in the business. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray during the third quarter worth $26,000. Lido Advisors LLC bought a new stake in Tilray during the fourth quarter worth $28,000. Dudley Capital Management LLC bought a new stake in Tilray during the fourth quarter worth $29,000. Verdence Capital Advisors LLC bought a new stake in Tilray during the fourth quarter worth $29,000. Finally, International Assets Investment Management LLC raised its position in Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after acquiring an additional 18,208 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

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.