Tilray (NASDAQ:TLRY) Stock Price Down 5.2% – Time to Sell?

Shares of Tilray Inc (NASDAQ:TLRY) were down 5.2% during trading on Thursday . The stock traded as low as $0.68 and last traded at $0.68. Approximately 8,478,878 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 45,182,949 shares. The stock had previously closed at $0.72.

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

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 company has a market capitalization of $634.79 million, a price-to-earnings ratio of -2.26 and a beta of 2.13. The firm has a 50-day simple moving average of $1.08 and a two-hundred day simple moving average of $1.40.

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). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray

A number of large investors have recently made changes to their positions in the company. Creative Planning grew its holdings in Tilray by 36.6% during the 3rd quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after acquiring an additional 38,054 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after purchasing an additional 18,208 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after buying an additional 7,339 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Tilray in the third quarter valued at $110,000. Finally, Vista Capital Partners Inc. purchased a new stake in Tilray during the 3rd quarter worth about $42,000. 9.35% of the stock is currently owned by hedge funds and other 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.