Tilray (NASDAQ:TLRY) Stock Price Down 2.4% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price dropped 2.4% on Monday . The company traded as low as $0.71 and last traded at $0.72. Approximately 10,493,126 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 45,705,008 shares. The stock had previously closed at $0.74.

Analyst Ratings Changes

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

Tilray Stock Up 2.6 %

The business's 50 day moving average is $1.05 and its 200 day moving average is $1.38. The company has a market capitalization of $650.45 million, a price-to-earnings ratio of -2.31 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY - Get Free Report) last released its earnings results on Friday, January 10th. The company reported ($0.10) 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 during the quarter, compared to analyst estimates of $216.34 million. The company's revenue was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current year.

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Hedge Funds Weigh In On Tilray

Institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray during the 3rd quarter valued at approximately $26,000. Lido Advisors LLC purchased a new position in shares of Tilray during the 4th quarter valued at approximately $28,000. Dudley Capital Management LLC purchased a new position in shares of Tilray during the 4th quarter valued at approximately $29,000. Verdence Capital Advisors LLC purchased a new position in shares of Tilray during the 4th quarter valued at approximately $29,000. Finally, International Assets Investment Management LLC grew its stake in Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock valued at $42,000 after acquiring an additional 18,208 shares during the period. 9.35% of the stock is 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.