Tilray (NASDAQ:TLRY) Shares Down 0.1% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s share price dropped 0.1% during mid-day trading on Wednesday . The stock traded as low as $0.91 and last traded at $0.94. Approximately 10,982,730 shares were traded during trading, a decline of 77% from the average daily volume of 47,726,137 shares. The stock had previously closed at $0.94.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Tilray presently has an average rating of “Hold” and an average price target of $2.70.

Tilray Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The stock has a market capitalization of $898.28 million, a P/E ratio of -3.19 and a beta of 2.07. The stock’s fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $1.52.

Tilray (NASDAQ:TLRY) last posted 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 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Activity at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. BNP Paribas Financial Markets raised its holdings in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Virtu Financial LLC bought a new position in Tilray during the fourth quarter valued at about $1,029,000. Point72 Asset Management L.P. bought a new position in Tilray during the third quarter valued at about $1,348,000. JPMorgan Chase & Co. grew its position in Tilray by 112.7% during the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company’s stock valued at $1,222,000 after buying an additional 487,051 shares during the period. Finally, XTX Topco Ltd grew its position in Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after buying an additional 257,641 shares during the period. 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.