Tilray (NASDAQ:TLRY) Trading Down 14.7% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s share price traded down 14.7% during trading on Wednesday . The company traded as low as $1.51 and last traded at $1.51. 33,055,565 shares were traded during mid-day trading, an increase of 31% from the average session volume of 25,208,852 shares. The stock had previously closed at $1.77.

Wall Street Analysts Forecast Growth

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

Tilray Price Performance

The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -5.70 and a beta of 2.14. 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 business has a 50 day simple moving average of $1.68 and a 200-day simple moving average of $1.79.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) EPS. Equities research analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of 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 acquiring an additional 10,648,403 shares during the period. Vanguard Group Inc. grew its stake in shares of Tilray by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after acquiring an additional 117,891 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tilray by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after acquiring an additional 213,834 shares during the period. Bank of Montreal Can grew its stake in shares of Tilray by 19.6% during the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after acquiring an additional 355,778 shares during the period. Finally, Swiss National Bank grew its stake in shares of Tilray by 3.6% during the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock worth $3,683,000 after acquiring an additional 51,700 shares during the period. Institutional investors own 9.35% of the company’s stock.

About Tilray

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.