Tilray (NASDAQ:TLRY) Stock Price Down 11.1% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares traded down 11.1% during mid-day trading on Tuesday . The stock traded as low as $0.51 and last traded at $0.52. 25,844,377 shares were traded during mid-day trading, a decline of 13% from the average session volume of 29,684,207 shares. The stock had previously closed at $0.58.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased 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.

Tilray Stock Performance

The firm has a fifty day moving average price of $0.79 and a 200 day moving average price of $1.21. The firm has a market capitalization of $436.01 million, a PE ratio of -1.55 and a beta of 1.88. 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 earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

Several large investors have recently added to or reduced their stakes in the company. Lido Advisors LLC acquired a new stake in shares of Tilray in the fourth quarter worth $28,000. Verdence Capital Advisors LLC purchased a new stake in Tilray in the 4th quarter worth about $29,000. Dudley Capital Management LLC acquired a new stake in Tilray during the 4th quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new position in Tilray during the 4th quarter valued at about $32,000. Finally, Newman Dignan & Sheerar Inc. increased its holdings in shares of 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 purchasing an additional 10,000 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.