Tilray (NASDAQ:TLRY) Trading Down 1.4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price was down 1.4% on Wednesday . The stock traded as low as $1.07 and last traded at $1.08. Approximately 14,307,509 shares were traded during trading, a decline of 65% from the average daily volume of 40,900,289 shares. The stock had previously closed at $1.09.

Analyst Ratings Changes

Several analysts have recently weighed in on TLRY shares. Canaccord Genuity Group lifted their target price 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 decreased their target price 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $2.70.

Tilray Stock Down 3.2 %

The stock has a market capitalization of $989.23 million, a P/E ratio of -3.52 and a beta of 2.08. The firm’s fifty day moving average is $1.29 and its 200-day moving average is $1.57. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $216.34 million. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Activity at Tilray

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

Hedge Funds Weigh In On Tilray

Several large investors have recently made changes to their positions in the company. KBC Group NV boosted its holdings in Tilray by 75.9% in the fourth quarter. KBC Group NV now owns 38,332 shares of the company’s stock valued at $51,000 after acquiring an additional 16,539 shares during the last quarter. Madrona Financial Services LLC boosted its holdings in Tilray by 40.0% in the fourth quarter. Madrona Financial Services LLC now owns 70,000 shares of the company’s stock valued at $93,000 after acquiring an additional 20,000 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Tilray in the fourth quarter valued at about $32,000. Pallas Capital Advisors LLC boosted its holdings in Tilray by 59.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 50,438 shares of the company’s stock valued at $67,000 after acquiring an additional 18,792 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Tilray by 32.4% during the third quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock worth $760,000 after buying an additional 105,803 shares during the last quarter. Institutional investors and hedge funds 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.