Tilray (NASDAQ:TLRY) Trading Down 4.3% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) was down 4.3% during trading on Monday . The company traded as low as $0.97 and last traded at $1.01. Approximately 21,987,405 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 42,106,961 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Canaccord Genuity Group boosted their price objective on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Roth Mkm lowered their price objective on shares of Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a research report on Friday, October 11th. 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, Tilray has an average rating of "Hold" and an average price target of $2.70.

Tilray Price Performance

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 market capitalization of $993.92 million, a price-to-earnings ratio of -3.53 and a beta of 2.07. The company has a 50-day moving average price of $1.25 and a 200-day moving average price of $1.54.

Tilray (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Tilray's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Activity

In other news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tilray in the 3rd quarter valued at about $1,348,000. XTX Topco Ltd increased its position in Tilray by 1,079.7% during the third 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 last quarter. Alberta Investment Management Corp lifted its position in shares of Tilray by 58.2% in the fourth quarter. Alberta Investment Management Corp now owns 668,800 shares of the company's stock valued at $884,000 after buying an additional 246,000 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Tilray during the 4th quarter worth approximately $313,000. 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.