Tilray (NASDAQ:TLRY) Stock Price Down 0.8% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) dropped 0.8% on Wednesday . The company traded as low as $0.64 and last traded at $0.65. Approximately 2,809,920 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 30,269,809 shares. The stock had previously closed at $0.65.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price target on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research report on Monday, January 13th.

Tilray Trading Down 21.2 %

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market cap of $427.85 million, a PE ratio of -1.52 and a beta of 1.88. The stock has a 50 day moving average price of $0.77 and a 200 day moving average price of $1.20.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.83). The firm had revenue of $185.78 million during the quarter, compared to the consensus estimate of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Sell-side analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

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Institutional Investors Weigh In On Tilray

Institutional investors have recently modified their holdings of the stock. Lido Advisors LLC purchased a new position in shares of Tilray in the 4th quarter worth about $28,000. Verdence Capital Advisors LLC bought a new stake in Tilray during the 4th quarter valued at about $29,000. Dudley Capital Management LLC purchased a new position in Tilray in the fourth quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tilray during the fourth quarter valued at approximately $32,000. Finally, Newman Dignan & Sheerar Inc. increased its position in shares of Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock valued at $35,000 after acquiring an additional 10,000 shares in the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.