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

Shares of Tilray Inc (NASDAQ:TLRY) dropped 1.6% during mid-day trading on Monday . The stock traded as low as $0.44 and last traded at $0.44. Approximately 6,636,035 shares changed hands during trading, a decline of 83% from the average daily volume of 39,372,070 shares. The stock had previously closed at $0.45.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TLRY shares. Roth Capital reaffirmed a “neutral” rating on shares of Tilray in a research report on Monday, April 14th. Canaccord Genuity Group upped their target price on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler reduced their price target on shares of Tilray from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th.

Tilray Price Performance

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’s 50 day moving average price is $0.67 and its 200 day moving average price is $1.12. The stock has a market capitalization of $412.57 million, a P/E ratio of -1.47 and a beta of 1.88.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $185.78 million for the quarter, compared to analysts’ expectations of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Sell-side analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently modified their holdings of the business. Lido Advisors LLC purchased a new position in Tilray during the fourth quarter valued at $28,000. Dudley Capital Management LLC bought a new position in shares of Tilray in the fourth quarter worth about $29,000. Verdence Capital Advisors LLC purchased a new position in shares of Tilray during the 4th quarter valued at about $29,000. Ameritas Advisory Services LLC bought a new position in shares of Tilray during the 4th quarter valued at approximately $32,000. Finally, Newman Dignan & Sheerar Inc. increased its holdings in 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. 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.