Tilray (NASDAQ:TLRY) Trading Down 0.3% - Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) traded down 0.3% during trading on Friday . The company traded as low as $0.66 and last traded at $0.67. 10,925,776 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 44,870,711 shares. The stock had previously closed at $0.68.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price objective on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Three 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 currently has a consensus rating of "Hold" and a consensus price target of $2.70.

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 stock has a market cap of $650.45 million, a P/E ratio of -2.31 and a beta of 2.13. The stock has a fifty day simple moving average of $1.05 and a 200-day simple moving average of $1.38.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The business's quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Tilray

Several institutional investors have recently modified their holdings of TLRY. BNP Paribas Financial Markets lifted its holdings in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock valued at $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. Tidal Investments LLC lifted its holdings 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 valued at $14,092,000 after purchasing an additional 889,086 shares in the last quarter. Quinn Opportunity Partners LLC lifted 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 valued at $2,152,000 after purchasing an additional 840,000 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Tilray during the 4th quarter valued at about $1,029,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 purchasing an additional 769,569 shares in the last quarter. Institutional investors 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.