Tilray (NASDAQ:TLRY) Trading Down 1% – Time to Sell?

Shares of Tilray Inc (NASDAQ:TLRY) traded down 1% during mid-day trading on Wednesday . The stock traded as low as $0.46 and last traded at $0.47. 3,252,707 shares traded hands during trading, a decline of 89% from the average session volume of 29,310,603 shares. The stock had previously closed at $0.47.

Analyst Ratings Changes

TLRY has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler decreased their price target on shares of Tilray from $2.00 to $1.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th.

Tilray Stock Up 0.8 %

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 company has a market capitalization of $446.89 million, a price-to-earnings ratio of -1.59 and a beta of 1.88. The stock’s fifty day simple moving average is $0.70 and its two-hundred day simple moving average is $1.15.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. On average, sell-side analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

Several large investors have recently modified their holdings of TLRY. Tidal Investments LLC boosted its holdings in Tilray by 9.2% in the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after purchasing an additional 889,086 shares during the period. Bank of Montreal Can raised its holdings in shares of Tilray by 14.4% in the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock worth $3,310,000 after buying an additional 312,476 shares in the last quarter. Geode Capital Management LLC raised its stake in Tilray by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock worth $3,200,000 after acquiring an additional 403,371 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tilray by 54.8% during 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tilray by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock valued at $2,613,000 after buying an additional 286,481 shares in the last quarter. 9.35% of the stock is owned by institutional investors.

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.