Tilray (NASDAQ:TLRY) Stock Price Down 1% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price dropped 1% during mid-day trading on Wednesday . The stock traded as low as $0.46 and last traded at $0.47. Approximately 3,252,707 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 29,310,603 shares. The stock had previously closed at $0.47.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler cut their target price on Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Roth Capital restated a "neutral" rating on shares of Tilray in a report on Monday, April 14th. Finally, Canaccord Genuity Group lifted their target price on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a report on Monday, January 13th.

Tilray Stock Performance

The company has a market capitalization of $421.94 million, a price-to-earnings ratio of -1.50 and a beta of 1.88. 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 firm has a 50-day simple moving average of $0.67 and a two-hundred day simple moving average of $1.13.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $185.78 million for the quarter, compared to the consensus estimate of $213.38 million. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

Several large investors have recently modified their holdings of the company. Newman Dignan & Sheerar Inc. increased its holdings in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after purchasing an additional 10,000 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Tilray by 55.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after buying an additional 11,325 shares in the last quarter. NewEdge Advisors LLC raised its position in Tilray by 92.1% in the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after buying an additional 13,136 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Tilray by 59.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock worth $49,000 after acquiring an additional 13,786 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Tilray by 68.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock worth $47,000 after acquiring an additional 14,221 shares in the last quarter. 9.35% of the stock is owned by 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.