Tilray (NASDAQ:TLRY) Shares Down 4.3% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) dropped 4.3% on Monday . The company traded as low as $0.97 and last traded at $1.01. Approximately 21,987,405 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 42,106,961 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

Several research firms have recently weighed in on TLRY. Roth Mkm lowered their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group upped their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -3.57 and a beta of 2.07. The company has a 50 day moving average price of $1.25 and a 200 day moving average price of $1.54.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company’s revenue for the quarter 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 earnings per share for the current year.

Insider Activity at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in Tilray by 11.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after purchasing an additional 70,605 shares in the last quarter. Algert Global LLC bought a new position in shares of Tilray during the second quarter worth about $130,000. Sanctuary Advisors LLC acquired a new stake in Tilray in the 2nd quarter valued at approximately $65,000. Creative Planning raised its holdings in shares of Tilray by 36.6% in the third quarter. Creative Planning now owns 141,921 shares of the company’s stock valued at $250,000 after purchasing an additional 38,054 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its stake in Tilray by 253.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 39,074 shares of the company’s stock valued at $69,000 after buying an additional 28,022 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.