Tilray (NASDAQ:TLRY) Reaches New 52-Week Low – Time to Sell?

Tilray Inc (NASDAQ:TLRY) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $0.97 and last traded at $0.99, with a volume of 7855432 shares trading hands. The stock had previously closed at $1.00.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their target price on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tilray has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Price Performance

The company’s 50 day simple moving average is $1.23 and its 200 day simple moving average is $1.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data 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 company had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. The company’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray in the third quarter valued at $26,000. Verdence Capital Advisors LLC acquired a new position in Tilray in the 4th quarter valued at about $29,000. Dudley Capital Management LLC acquired a new position in Tilray in the 4th quarter valued at about $29,000. Ameritas Advisory Services LLC purchased a new stake in Tilray during the 4th quarter valued at approximately $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its position in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after acquiring an additional 10,000 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.