Tilray (NASDAQ:TLRY) Shares Down 4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) was down 4% during mid-day trading on Friday . The stock traded as low as $1.15 and last traded at $1.16. Approximately 14,579,097 shares traded hands during trading, a decline of 43% from the average daily volume of 25,663,227 shares. The stock had previously closed at $1.21.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Trading Down 1.7 %

The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $1.49 and its 200 day moving average price is $1.68. The stock has a market cap of $1.07 billion, a P/E ratio of -4.30 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $200.00 million during 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%. Tilray’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned ($0.10) EPS. Equities research analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Transactions at Tilray

In related news, CFO Carl A. Merton acquired 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 directly owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray in the 3rd quarter valued at $26,000. Signature Estate & Investment Advisors LLC acquired a new position in Tilray in the 2nd quarter worth approximately $29,000. Jeppson Wealth Management LLC purchased a new stake in shares of Tilray in the second quarter worth about $33,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Tilray during the 2nd quarter worth approximately $34,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Tilray during the 2nd quarter worth approximately $37,000. Hedge funds and other 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.