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

Tilray Inc (NASDAQ:TLRY) shares fell 1.7% during mid-day trading on Tuesday . The company traded as low as $1.15 and last traded at $1.16. 13,606,366 shares were traded during trading, a decline of 68% from the average session volume of 42,993,078 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TLRY shares. Roth Mkm decreased their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group boosted their price target on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The company has a market cap of $1.07 billion, a PE ratio of -3.93 and a beta of 2.08. 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 stock’s 50-day simple moving average is $1.33 and its 200 day simple moving average is $1.61.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted 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 valued at $3,202,000 after acquiring an additional 1,690,827 shares during the period. Point72 Asset Management L.P. acquired a new position in Tilray during the third quarter worth $1,348,000. Bank of Montreal Can boosted its position in Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares in the last quarter. XTX Topco Ltd grew its holdings in Tilray by 1,079.7% in the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after purchasing an additional 257,641 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after buying an additional 174,997 shares in the last quarter. 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.