Tilray (NASDAQ:TLRY) Trading Down 3.5% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 3.5% on Tuesday . The company traded as low as $0.81 and last traded at $0.81. 12,845,355 shares were traded during mid-day trading, a decline of 73% from the average session volume of 47,328,574 shares. The stock had previously closed at $0.84.

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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Down 5.5 %

The business has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.45. The firm has a market capitalization of $744.50 million, a P/E ratio of -2.65 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY) last posted 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). The business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in 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. Tidal Investments LLC lifted 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 valued at $14,092,000 after acquiring an additional 889,086 shares during the period. Quinn Opportunity Partners LLC boosted its stake in shares of 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 purchasing an additional 840,000 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Tilray in the 4th quarter worth about $1,029,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after purchasing an additional 769,569 shares during the last quarter. 9.35% of the stock is owned by institutional investors.

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.