Tilray (NASDAQ:TLRY) Stock Price Down 1.4% – Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY) were down 1.4% during trading on Tuesday . The company traded as low as $1.08 and last traded at $1.09. Approximately 12,897,415 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 41,539,746 shares. The stock had previously closed at $1.10.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Roth Mkm reduced their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Performance

The firm has a market cap of $1.02 billion, a P/E ratio of -3.63 and a beta of 2.08. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $1.30 and a 200-day simple moving average of $1.58.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The business had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 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 worth $70,000 after acquiring an additional 7,339 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Tilray by 58.1% in the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after purchasing an additional 11,632 shares during the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray during the third quarter valued at $26,000. Finally, KBC Group NV boosted its position in shares of Tilray by 75.9% during the fourth quarter. KBC Group NV now owns 38,332 shares of the company’s stock valued at $51,000 after buying an additional 16,539 shares during 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.