Tilray (NASDAQ:TLRY) Stock Price Down 1.1% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price was down 1.1% on Tuesday . The stock traded as low as $1.31 and last traded at $1.35. Approximately 12,742,859 shares changed hands during trading, a decline of 52% from the average daily volume of 26,348,602 shares. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

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 quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The stock's 50-day moving average price is $1.42 and its 200-day moving average price is $1.64. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -4.93 and a beta of 2.08.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 2.00% and a negative net margin of 26.79%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) EPS. Equities research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton purchased 26,000 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares of the company's stock, valued at approximately $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On Tilray

Several hedge funds have recently bought and sold shares of TLRY. JPMorgan Chase & Co. raised its stake in Tilray by 32.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company's stock worth $760,000 after buying an additional 105,803 shares during the period. Synovus Financial Corp lifted its holdings in shares of Tilray by 176.7% during the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company's stock valued at $64,000 after purchasing an additional 23,046 shares in the last quarter. Barclays PLC grew its position in shares of Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company's stock valued at $359,000 after purchasing an additional 174,997 shares during the period. Toronto Dominion Bank increased its stake in Tilray by 454.5% during the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company's stock worth $227,000 after purchasing an additional 105,671 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company's stock worth $495,000 after buying an additional 257,641 shares during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.