Tilray (NASDAQ:TLRY) Stock Price Down 4% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s share price traded down 4% during mid-day trading on Friday . The company traded as low as $1.09 and last traded at $1.09. 8,179,247 shares were traded during trading, a decline of 80% from the average session volume of 41,731,113 shares. The stock had previously closed at $1.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group upped their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Roth Mkm decreased their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Down 5.8 %

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 has a market capitalization of $998.61 million, a P/E ratio of -3.55 and a beta of 2.08. The firm has a 50-day moving average price of $1.28 and a two-hundred day moving average price of $1.56.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction 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 $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by company insiders.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in shares of Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares in the last quarter. State Street Corp grew its position in shares of Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after buying an additional 88,079 shares during the period. BNP Paribas Financial Markets grew its position in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tilray by 6.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after buying an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Tilray by 2.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after purchasing an additional 37,300 shares during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.