Tilray (NASDAQ:TLRY) Hits New 52-Week Low - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $1.15 and last traded at $1.16, with a volume of 25338252 shares. The stock had previously closed at $1.16.

Analyst Ratings Changes

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

Tilray Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The stock's 50 day simple moving average is $1.45 and its two-hundred day simple moving average is $1.66. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -4.67 and a beta of 2.08.

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

Insider Activity

In related news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TLRY. Wealth Enhancement Advisory Services LLC raised its holdings in Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company's stock worth $70,000 after purchasing an additional 7,339 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock valued at $3,787,000 after purchasing an additional 7,406 shares during the period. Arizona State Retirement System boosted its position in shares of Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company's stock worth $360,000 after purchasing an additional 9,171 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in shares of Tilray by 58.1% during the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company's stock worth $52,000 after purchasing an additional 11,632 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in Tilray in the third quarter valued at about $26,000. Institutional investors 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.