Tilray (NASDAQ:TLRY) Shares Down 2.1% – Time to Sell?

Shares of Tilray Inc (NASDAQ:TLRY) fell 2.1% during mid-day trading on Wednesday . The stock traded as low as $1.13 and last traded at $1.15. 16,850,347 shares traded hands during trading, a decline of 61% from the average session volume of 43,080,738 shares. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

TLRY has been the subject of several research reports. Roth Mkm decreased their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Trading Down 2.1 %

The business’s fifty day simple moving average is $1.32 and its two-hundred day simple moving average is $1.60. The stock has a market capitalization of $1.07 billion, a P/E ratio of -3.82 and a beta of 2.08. 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 released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The business’s revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The shares were 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 owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of Tilray

A number of large investors have recently made changes to their positions in TLRY. BNP Paribas Financial Markets increased its position in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after buying an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Tilray during the 3rd quarter worth about $1,348,000. Bank of Montreal Can increased its holdings in Tilray by 19.6% during the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares in the last quarter. XTX Topco Ltd increased its holdings in Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares in the last quarter. Finally, Barclays PLC increased its holdings 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 purchasing an additional 174,997 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

About Tilray

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.