Tilray (NASDAQ:TLRY) Trading Down 1.4% – Should You Sell?

Tilray Inc (NASDAQ:TLRY) shares were down 1.4% during mid-day trading on Wednesday . The company traded as low as $1.07 and last traded at $1.08. Approximately 14,307,509 shares changed hands during trading, a decline of 65% from the average daily volume of 40,900,289 shares. The stock had previously closed at $1.09.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TLRY shares. Canaccord Genuity Group lifted their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Roth Mkm reduced their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Stock Down 7.1 %

The firm has a market cap of $984.54 million, a price-to-earnings ratio of -3.50 and a beta of 2.08. The firm has a 50 day moving average of $1.28 and a 200 day moving average of $1.56. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data 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 company had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several hedge funds have recently bought and sold shares of TLRY. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after buying an additional 7,339 shares in the last quarter. Bank of Montreal Can boosted its stake in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares during the last quarter. Newman Dignan & Sheerar Inc. increased its holdings in Tilray by 61.9% during 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 lifted its holdings in shares of Tilray by 58.1% in the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after purchasing an additional 11,632 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in Tilray during the third quarter worth $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.