Tilray (NASDAQ:TLRY) Shares Down 5.2% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 5.2% on Friday . The stock traded as low as $1.00 and last traded at $1.01. 18,431,789 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 46,106,742 shares. The stock had previously closed at $1.06.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TLRY shares. Roth Mkm cut their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Canaccord Genuity Group boosted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Stock Performance

The firm has a market cap of $937.66 million, a PE ratio of -3.33 and a beta of 2.07. The company has a 50 day simple moving average of $1.24 and a 200-day simple moving average of $1.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY) last released its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $210.90 million for 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%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Insider Activity at Tilray

In other news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marathon Trading Investment Management LLC increased its holdings in Tilray by 439.0% during the 4th quarter. Marathon Trading Investment Management LLC now owns 240,400 shares of the company’s stock valued at $320,000 after purchasing an additional 195,800 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Tilray during the fourth quarter valued at approximately $255,000. Arizona State Retirement System raised its holdings in shares of Tilray by 9.9% during the fourth quarter. Arizona State Retirement System now owns 261,233 shares of the company’s stock valued at $347,000 after acquiring an additional 23,439 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in Tilray in the fourth quarter valued at $29,000. Finally, SBI Securities Co. Ltd. purchased a new position in Tilray during the 4th quarter valued at $313,000. 9.35% of the stock is owned by institutional investors.

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.