Tilray (NASDAQ:TLRY) Stock Price Down 5.2% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares dropped 5.2% during trading on Friday . The company traded as low as $0.68 and last traded at $0.68. Approximately 6,067,335 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 30,526,634 shares. The stock had previously closed at $0.71.

Analysts Set New Price Targets

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 research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Tilray presently has an average rating of “Hold” and an average target price of $2.70.

Tilray Stock Down 7.2 %

The company has a market capitalization of $621.38 million, a price-to-earnings ratio of -2.21 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The business has a 50 day simple moving average of $0.85 and a 200 day simple moving average of $1.26.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $216.34 million. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

Large investors have recently added to or reduced their stakes in the business. Lido Advisors LLC acquired a new position in Tilray in the fourth quarter valued at $28,000. Dudley Capital Management LLC bought a new stake in shares of Tilray in the 4th quarter valued at approximately $29,000. Verdence Capital Advisors LLC bought a new position in shares of Tilray during the fourth quarter valued at approximately $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of Tilray in the 4th quarter worth about $32,000. Finally, Newman Dignan & Sheerar Inc. grew its holdings 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 buying an additional 10,000 shares in the last quarter. 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.