Tilray (NASDAQ:TLRY) Shares Down 0.1% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 0.1% during mid-day trading on Wednesday . The stock traded as low as $0.91 and last traded at $0.94. Approximately 10,982,730 shares changed hands during trading, a decline of 77% from the average daily volume of 47,726,137 shares. The stock had previously closed at $0.94.

Analyst Ratings Changes

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

Tilray Price Performance

The stock has a market capitalization of $898.28 million, a P/E ratio of -3.19 and a beta of 2.07. The stock’s fifty day moving average is $1.23 and its 200-day 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 released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (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 business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Activity at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Tilray by 22.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after acquiring an additional 7,339 shares during the period. Bank of Montreal Can boosted its holdings in shares of Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after buying an additional 7,406 shares during the period. Newman Dignan & Sheerar Inc. raised its stake in Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in Tilray by 58.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after purchasing an additional 11,632 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray in the 3rd quarter worth about $26,000. 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.