Tilray (NASDAQ:TLRY) Stock Price Down 4.9% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) dropped 4.9% on Monday . The stock traded as low as $0.61 and last traded at $0.63. Approximately 6,884,910 shares traded hands during trading, a decline of 77% from the average daily volume of 30,420,058 shares. The stock had previously closed at $0.66.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $0.83 and its 200-day moving average price is $1.25. The company has a market capitalization of $613.41 million, a price-to-earnings ratio of -2.18 and a beta of 2.13.

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 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 for the quarter, compared to the consensus estimate of $216.34 million. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently modified their holdings of TLRY. BNP Paribas Financial Markets raised its stake 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 purchasing an additional 1,690,827 shares during the period. Tidal Investments LLC grew its holdings in shares of Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after buying an additional 889,086 shares in the last quarter. Quinn Opportunity Partners LLC raised its position in Tilray by 108.0% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock valued at $2,152,000 after buying an additional 840,000 shares during the last quarter. Virtu Financial LLC bought a new stake in Tilray in the 4th quarter valued at approximately $1,029,000. Finally, Dimensional Fund Advisors LP boosted its position in Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after acquiring an additional 769,569 shares during the last quarter. Institutional investors and hedge funds 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.