Tilray (NASDAQ:TLRY) Trading Down 3.4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 3.4% during mid-day trading on Wednesday . The stock traded as low as $0.86 and last traded at $0.86. 19,205,518 shares were traded during mid-day trading, a decline of 59% from the average session volume of 46,742,723 shares. The stock had previously closed at $0.89.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Tilray has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Up 9.7 %

The firm has a 50-day moving average of $1.17 and a two-hundred day moving average of $1.46. 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 $892.18 million, a PE ratio of -3.17 and a beta of 2.07.

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

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted 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 purchasing an additional 1,690,827 shares during the period. Point72 Asset Management L.P. acquired a new position in Tilray during the third quarter worth $1,348,000. Creative Planning boosted its position in shares of Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after buying an additional 38,054 shares during the period. Barclays PLC grew its stake in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after buying an additional 174,997 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after buying an additional 18,208 shares during the period. 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.