Tilray (NASDAQ:TLRY) Trading Down 0.1% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) traded down 0.1% on Monday . The stock traded as low as $1.58 and last traded at $1.59. 3,181,930 shares were traded during mid-day trading, a decline of 87% from the average session volume of 24,956,004 shares. The stock had previously closed at $1.59.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th.

Tilray Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The firm has a market capitalization of $1.43 billion, a P/E ratio of -5.88 and a beta of 2.13. The business has a fifty day moving average of $1.73 and a 200-day moving average of $1.82.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts forecast that Tilray Inc will post -0.14 EPS for the current fiscal year.

Institutional Trading of Tilray

A number of institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in shares of Tilray by 4.4% during the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after acquiring an additional 9,171 shares during the period. CapWealth Advisors LLC raised its stake in shares of Tilray by 12.5% in the 1st quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock worth $222,000 after buying an additional 10,000 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Tilray by 7.3% in the first quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock valued at $434,000 after buying an additional 12,021 shares during the period. HBK Sorce Advisory LLC acquired a new stake in shares of Tilray in the first quarter valued at $37,000. Finally, Prospect Financial Services LLC bought a new position in Tilray during the second quarter valued at about $26,000. 9.35% of the stock is 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.