Tilray (NASDAQ:TLRY) Shares Down 3.9% - Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) fell 3.9% on Monday . The company traded as low as $0.54 and last traded at $0.57. 9,992,618 shares traded hands during trading, a decline of 66% from the average session volume of 29,639,823 shares. The stock had previously closed at $0.59.

Analysts Set New Price Targets

Several analysts recently weighed in on TLRY shares. Canaccord Genuity Group raised their target price on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th. Piper Sandler reduced their price objective on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday.

Tilray Trading Down 4.4 %

The firm has a market capitalization of $452.89 million, a price-to-earnings ratio of -1.60 and a beta of 1.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The company has a 50-day moving average price of $0.74 and a 200-day moving average price of $1.18.

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

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Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC grew its holdings in shares of Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Tilray by 14.4% in the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after purchasing an additional 312,476 shares during the period. Geode Capital Management LLC grew its stake in Tilray by 20.1% during the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after buying an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after buying an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tilray by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after buying an additional 286,481 shares during the last quarter. 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.