Tilray (NASDAQ:TLRY) Trading Down 5.2% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 5.2% on Friday . The company traded as low as $0.68 and last traded at $0.68. 6,067,335 shares traded hands during trading, a decline of 80% from the average session volume of 30,526,634 shares. The stock had previously closed at $0.71.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.70.

Tilray Price Performance

The company has a market cap of $621.67 million, a price-to-earnings ratio of -2.21 and a beta of 2.13. The company has a fifty day simple moving average of $0.87 and a two-hundred day simple moving average of $1.27. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last issued 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 business had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in shares of Tilray by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after acquiring an additional 889,086 shares during the last quarter. Bank of Montreal Can increased its position in Tilray by 14.4% during the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock worth $3,310,000 after purchasing an additional 312,476 shares in the last quarter. Geode Capital Management LLC raised its stake in Tilray by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock valued at $3,200,000 after purchasing an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after purchasing an additional 769,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tilray by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock worth $2,613,000 after purchasing an additional 286,481 shares during the last quarter. Hedge funds and other 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.