Tilray (NASDAQ:TLRY) Stock Price Down 4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) dropped 4% during trading on Friday . The company traded as low as $1.09 and last traded at $1.09. Approximately 8,179,247 shares were traded during trading, a decline of 80% from the average daily volume of 41,731,113 shares. The stock had previously closed at $1.13.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of research analyst reports. Roth Mkm lowered their price objective on shares of 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 raised their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Tilray presently has an average rating of “Hold” and an average price target of $2.70.

Tilray Stock Down 5.8 %

The stock has a fifty day moving average of $1.28 and a 200-day moving average of $1.56. The firm has a market capitalization of $998.61 million, a price-to-earnings ratio of -3.55 and a beta of 2.08. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The company had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were bought 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 approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Large investors have recently made changes to their positions in the business. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray in the 3rd quarter valued at about $26,000. Ameritas Advisory Services LLC acquired a new position in Tilray in the fourth quarter worth approximately $32,000. Newman Dignan & Sheerar Inc. increased its holdings in Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after buying an additional 10,000 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares during the last quarter. Finally, Vista Capital Partners Inc. acquired a new position in Tilray in the third quarter worth approximately $42,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.