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

Shares of Tilray Inc (NASDAQ:TLRY) gapped down prior to trading on Monday . The stock had previously closed at $0.95, but opened at $0.91. Tilray shares last traded at $0.84, with a volume of 10,580,293 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Down 1.2 %

The business’s 50 day simple moving average is $1.15 and its 200-day simple moving average is $1.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The stock has a market capitalization of $747.69 million, a P/E ratio of -2.66 and a beta of 2.07.

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

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in 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. Point72 Asset Management L.P. bought a new stake in shares of Tilray in the third quarter worth about $1,348,000. Creative Planning raised 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 purchasing an additional 38,054 shares during the period. Barclays PLC lifted its holdings in shares of Tilray by 600.4% during the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position 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 purchasing an additional 18,208 shares during the period. 9.35% of the stock is owned by institutional investors.

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.