Tilray (NASDAQ:TLRY) Stock Price Down 1% – Should You Sell?

Tilray Inc (NASDAQ:TLRY) traded down 1% on Wednesday . The company traded as low as $0.46 and last traded at $0.47. 3,252,707 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 29,310,603 shares. The stock had previously closed at $0.47.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TLRY shares. Piper Sandler dropped their price objective on shares of Tilray from $2.00 to $1.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Canaccord Genuity Group raised their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th.

Tilray Stock Performance

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $0.70 and a 200 day moving average of $1.15. The company has a market capitalization of $446.89 million, a P/E ratio of -1.59 and a beta of 1.88.

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

Institutional Investors Weigh In On Tilray

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its stake in shares of Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after purchasing an additional 889,086 shares during the period. Bank of Montreal Can lifted its position in Tilray by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock valued at $3,310,000 after buying an additional 312,476 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tilray by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock valued at $3,200,000 after buying an additional 403,371 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after acquiring an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tilray by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock valued at $2,613,000 after purchasing an additional 286,481 shares in the last quarter. Institutional investors and hedge funds 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.