Tilray (NASDAQ:TLRY) Trading Down 5.5% – Time to Sell?

Shares of Tilray Inc (NASDAQ:TLRY) dropped 5.5% on Friday . The company traded as low as $0.56 and last traded at $0.58. Approximately 9,565,965 shares changed hands during trading, a decline of 68% from the average daily volume of 29,918,027 shares. The stock had previously closed at $0.62.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped 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 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Down 4.2 %

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 company has a market cap of $555.28 million, a price-to-earnings ratio of -1.97 and a beta of 1.88. The business’s fifty day moving average price is $0.81 and its 200 day moving average price is $1.24.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company 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 firm’s revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its stake in Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after buying an additional 7,406 shares during the last quarter. Newman Dignan & Sheerar Inc. raised its position in shares of 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 acquiring an additional 10,000 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Tilray by 55.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock valued at $42,000 after purchasing an additional 11,325 shares during the period. NewEdge Advisors LLC grew its stake in Tilray by 92.1% during the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock worth $36,000 after purchasing an additional 13,136 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in Tilray by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock worth $49,000 after purchasing an additional 13,786 shares in 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.