Tilray (NASDAQ:TLRY) Trading Down 0.3% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 0.3% during trading on Friday . The company traded as low as $0.66 and last traded at $0.67. 10,925,776 shares changed hands during trading, a decline of 76% from the average session volume of 44,870,711 shares. The stock had previously closed at $0.68.

Wall Street Analyst Weigh In

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

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The stock’s 50 day moving average price is $1.05 and its 200 day moving average price is $1.38. The company has a market capitalization of $650.45 million, a P/E ratio of -2.31 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results 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 firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently added to or reduced their stakes in TLRY. Wealth Enhancement Advisory Services LLC grew its position in shares of Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after buying an additional 7,339 shares during the period. Bank of Montreal Can raised its holdings in shares of Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares during the period. Newman Dignan & Sheerar Inc. increased its position in Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after buying an additional 10,000 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Tilray by 55.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock worth $42,000 after buying an additional 11,325 shares during the period. Finally, NewEdge Advisors LLC grew its stake in Tilray by 92.1% in the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock valued at $36,000 after acquiring an additional 13,136 shares during the period. 9.35% of the stock is currently owned by institutional investors.

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.