Tilray (NASDAQ:TLRY) Shares Down 1.6% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) dropped 1.6% during mid-day trading on Thursday . The stock traded as low as $1.55 and last traded at $1.56. Approximately 2,933,137 shares were traded during trading, a decline of 88% from the average daily volume of 25,102,016 shares. The stock had previously closed at $1.58.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th.

Tilray Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company’s fifty day moving average price is $1.73 and its 200 day moving average price is $1.83. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.61 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. Tilray’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) earnings per share. Equities research analysts expect that Tilray Inc will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

Several large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its position in shares of Tilray by 36,687.0% during the first quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after acquiring an additional 10,648,403 shares during the last quarter. Vanguard Group Inc. grew its position in Tilray by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after purchasing an additional 117,891 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tilray by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock valued at $6,699,000 after purchasing an additional 213,834 shares during the period. Bank of Montreal Can raised its holdings in shares of Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Tilray by 3.6% during the first quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock worth $3,683,000 after buying an additional 51,700 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.