Tilray (NASDAQ:TLRY) Shares Down 4.2% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 4.2% during mid-day trading on Tuesday . The company traded as low as $1.36 and last traded at $1.36. 7,995,080 shares traded hands during trading, a decline of 69% from the average session volume of 25,484,080 shares. The stock had previously closed at $1.42.

Analysts Set New Price Targets

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

Tilray Trading Up 0.7 %

The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.07 and a beta of 2.14. The company has a fifty day moving average price of $1.58 and a 200-day moving average price of $1.73. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS. On average, equities research analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in TLRY. Prospect Financial Services LLC bought a new stake in Tilray during the 2nd quarter valued at approximately $26,000. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the third quarter worth $26,000. Signature Estate & Investment Advisors LLC bought a new position in Tilray during the second quarter worth $29,000. Jeppson Wealth Management LLC acquired a new position in Tilray during the 2nd quarter valued at $33,000. Finally, Vanguard Capital Wealth Advisors bought a new stake in Tilray in the 2nd quarter valued at $34,000. 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.