Tilray (NASDAQ:TLRY) Stock Price Down 4.3% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 4.3% during trading on Wednesday . The company traded as low as $1.22 and last traded at $1.23. 14,071,031 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 25,580,971 shares. The stock had previously closed at $1.28.

Analyst Upgrades and Downgrades

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

Tilray Price Performance

The firm has a market cap of $1.13 billion, a PE ratio of -4.54 and a beta of 2.09. The stock’s fifty day moving average price is $1.51 and its 200-day moving average price is $1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

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 business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the previous year, the company posted ($0.10) EPS. The business’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts forecast that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by insiders.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently modified their holdings of TLRY. Wealth Enhancement Advisory Services LLC raised its holdings in Tilray by 22.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after acquiring an additional 7,339 shares during the last quarter. Bank of Montreal Can increased its stake in Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares during the last quarter. Arizona State Retirement System lifted its position in Tilray by 4.4% during the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after buying an additional 9,171 shares during the period. Pallas Capital Advisors LLC boosted its stake in Tilray by 58.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after buying an additional 11,632 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray during the 3rd quarter valued at about $26,000. Hedge funds and other 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.