Tilray (NASDAQ:TLRY) Stock Price Down 5.2% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price was down 5.2% during mid-day trading on Thursday . The company traded as low as $0.68 and last traded at $0.68. Approximately 8,478,878 shares traded hands during trading, a decline of 81% from the average daily volume of 45,182,949 shares. The stock had previously closed at $0.72.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their target price on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.70.

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 stock has a 50 day simple moving average of $1.08 and a two-hundred day simple moving average of $1.40. The company has a market cap of $634.79 million, a price-to-earnings ratio of -2.26 and a beta of 2.13.

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

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. BNP Paribas Financial Markets grew its position in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after acquiring an additional 1,690,827 shares during the period. Tidal Investments LLC lifted its stake in shares of Tilray by 9.2% in the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Quinn Opportunity Partners LLC grew its holdings in shares of Tilray by 108.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock worth $2,152,000 after purchasing an additional 840,000 shares during the period. Virtu Financial LLC acquired a new stake in shares of Tilray during the 4th quarter worth about $1,029,000. Finally, Dimensional Fund Advisors LP raised its holdings in Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after buying an additional 769,569 shares during the period. 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.