Tilray (NASDAQ:TLRY) Stock Price Down 1.7% – Should You Sell?

Tilray Inc (NASDAQ:TLRY) traded down 1.7% on Wednesday . The company traded as low as $1.44 and last traded at $1.45. 8,344,378 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 25,443,896 shares. The stock had previously closed at $1.47.

Analyst Ratings Changes

Separately, Roth Mkm dropped their price target 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 Stock Performance

The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $1.66 and its two-hundred day moving average is $1.78.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. On average, analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

Several hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC increased its position in Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after buying an additional 10,648,403 shares during the period. BNP Paribas Financial Markets grew 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 in the last quarter. Bank of Montreal Can boosted its stake in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares during the period. Virtu Financial LLC acquired a new stake in Tilray during the first quarter worth approximately $586,000. Finally, J.W. Cole Advisors Inc. increased its stake in Tilray by 1,077.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock worth $284,000 after acquiring an additional 156,524 shares during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.