Tilray (NASDAQ:TLRY) Stock Price Down 2.5% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price traded down 2.5% during trading on Thursday . The company traded as low as $0.84 and last traded at $0.85. 10,613,839 shares traded hands during trading, a decline of 77% from the average session volume of 46,799,211 shares. The stock had previously closed at $0.87.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upped their price objective 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

The stock’s fifty day moving average price is $1.17 and its 200-day moving average price is $1.46. 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 firm has a market cap of $892.18 million, a PE ratio of -3.17 and a beta of 2.07.

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

Institutional Investors Weigh In On Tilray

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in Tilray by 22.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after acquiring an additional 7,339 shares during the last quarter. Bank of Montreal Can grew its stake in Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after acquiring an additional 7,406 shares during the last quarter. Newman Dignan & Sheerar Inc. grew its stake in Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after acquiring an additional 10,000 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Tilray by 55.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock valued at $42,000 after acquiring an additional 11,325 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in Tilray by 58.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after acquiring an additional 11,632 shares during the last quarter. 9.35% of the stock is 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.