Tilray (NASDAQ:TLRY) Shares Down 3% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 3% on Wednesday . The stock traded as low as $0.66 and last traded at $0.66. Approximately 4,026,685 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 30,794,858 shares. The stock had previously closed at $0.68.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Down 7.2 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The company has a market capitalization of $621.38 million, a PE ratio of -2.21 and a beta of 2.13. The business has a fifty day moving average price of $0.87 and a 200 day moving average price of $1.27.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data 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). The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray

Several large investors have recently modified their holdings of TLRY. Lido Advisors LLC purchased a new stake in Tilray during the 4th quarter worth approximately $28,000. Dudley Capital Management LLC acquired a new position in Tilray during the 4th quarter worth $29,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray in the 4th quarter valued at about $29,000. Ameritas Advisory Services LLC acquired a new position in Tilray in the fourth quarter worth about $32,000. Finally, Newman Dignan & Sheerar Inc. increased its holdings in Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after buying an additional 10,000 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.