Tilray (NASDAQ:TLRY) Stock Price Down 2.5% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price traded down 2.5% during mid-day trading on Thursday . The stock traded as low as $0.84 and last traded at $0.85. 10,613,839 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 46,799,211 shares. The stock had previously closed at $0.87.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their target price on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three investment 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, the stock presently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The stock has a market cap of $892.18 million, a price-to-earnings ratio of -3.17 and a beta of 2.07. The stock’s 50 day moving average is $1.17 and its two-hundred day moving average is $1.46. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The business had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its position in Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Tilray during the 3rd quarter worth $1,348,000. Creative Planning raised its position in Tilray by 36.6% during the 3rd quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after buying an additional 38,054 shares during the last quarter. Barclays PLC raised its position in Tilray by 600.4% during the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after buying an additional 174,997 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares during the last quarter. 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.