Tilray (NASDAQ:TLRY) Trading Down 0.2% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 0.2% during mid-day trading on Friday . The company traded as low as $0.85 and last traded at $0.87. 12,718,516 shares changed hands during trading, a decline of 73% from the average session volume of 46,480,660 shares. The stock had previously closed at $0.87.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their price objective on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

The company has a market cap of $892.18 million, a P/E ratio of -3.17 and a beta of 2.07. 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 firm’s fifty day moving average is $1.17 and its two-hundred day moving average is $1.46.

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

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray during the 3rd quarter valued at about $26,000. Lido Advisors LLC bought a new stake in shares of Tilray in the fourth quarter worth about $28,000. Dudley Capital Management LLC purchased a new stake in shares of Tilray in the fourth quarter worth about $29,000. Verdence Capital Advisors LLC bought a new position in Tilray during the fourth quarter valued at approximately $29,000. Finally, International Assets Investment Management LLC grew its holdings in Tilray by 335.3% during 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 in the last quarter. Institutional investors own 9.35% of the company’s stock.

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.