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

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 1.4% on Wednesday . The company traded as low as $0.60 and last traded at $0.60. 18,506,751 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 44,526,711 shares. The stock had previously closed at $0.61.

Analyst Ratings Changes

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

Tilray Stock Performance

The stock has a market cap of $571.88 million, a PE ratio of -2.03 and a beta of 2.13. 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 business has a 50 day moving average price of $0.99 and a two-hundred day moving average price of $1.35.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray in the third quarter worth $26,000. Lido Advisors LLC bought a new position in Tilray in the fourth quarter worth $28,000. Verdence Capital Advisors LLC bought a new position in Tilray in the fourth quarter worth $29,000. Dudley Capital Management LLC bought a new position in Tilray in the fourth quarter worth $29,000. Finally, Ameritas Advisory Services LLC bought a new position in Tilray in the fourth quarter worth $32,000. Hedge funds and other institutional investors 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.