Tilray (NASDAQ:TLRY) Stock Price Down 1.1% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 1.1% during mid-day trading on Friday . The stock traded as low as $1.36 and last traded at $1.37. 5,796,186 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 25,428,746 shares. The stock had previously closed at $1.38.

Analysts Set New Price Targets

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

Tilray Trading Down 2.9 %

The company has a 50 day moving average price of $1.66 and a 200 day moving average price of $1.78. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -5.06 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.

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

Hedge Funds Weigh In On Tilray

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in Tilray during the 3rd quarter worth about $1,348,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tilray by 6.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares during the period. CreativeOne Wealth LLC purchased a new stake in Tilray during the 3rd quarter worth about $127,000. BNP Paribas Financial Markets increased its holdings in Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Tilray by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 715,672 shares of the company’s stock worth $1,260,000 after purchasing an additional 33,194 shares during the period. 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.