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

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

Analyst Ratings Changes

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

Tilray Trading Down 5.9 %

The company has a market capitalization of $633.67 million, a price-to-earnings ratio of -2.25 and a beta of 2.13. The company has a 50-day moving average price of $1.08 and a 200-day moving average price of $1.40. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. Research 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 added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after buying an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Tilray during the third quarter worth about $1,348,000. Atria Wealth Solutions Inc. grew its position in Tilray by 174.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock worth $112,000 after buying an additional 53,751 shares in the last quarter. Creative Planning grew its position in Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company's stock worth $250,000 after buying an additional 38,054 shares in the last quarter. Finally, Barclays PLC grew its position in Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company's stock worth $359,000 after buying an additional 174,997 shares in the last quarter. 9.35% of the stock is 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.