Tilray (NASDAQ:TLRY) Stock Price Down 0.1% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) dropped 0.1% on Monday . The stock traded as low as $1.58 and last traded at $1.59. Approximately 3,181,930 shares changed hands during trading, a decline of 87% from the average daily volume of 24,956,004 shares. The stock had previously closed at $1.59.

Analysts Set New Price Targets

Separately, Roth Mkm decreased their price objective on Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a research note on Friday, October 11th.

Tilray Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company's 50-day moving average price is $1.73 and its 200-day moving average price is $1.81. The firm has a market capitalization of $1.43 billion, a PE ratio of -5.85 and a beta of 2.13.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same period in the previous year, the business earned ($0.10) EPS. Tilray's revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently added to or reduced their stakes in TLRY. Tidal Investments LLC boosted its holdings in shares of Tilray by 36,687.0% in the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company's stock valued at $26,373,000 after buying an additional 10,648,403 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company's stock worth $8,707,000 after purchasing an additional 117,891 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tilray by 8.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company's stock worth $6,699,000 after purchasing an additional 213,834 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company's stock valued at $3,622,000 after purchasing an additional 355,778 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Tilray by 3.6% in the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company's stock valued at $3,683,000 after purchasing an additional 51,700 shares during the period. 9.35% of the stock is currently owned by hedge funds and other 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.