Tilray (NASDAQ:TLRY) Shares Down 5.5% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price fell 5.5% during mid-day trading on Thursday . The company traded as low as $1.34 and last traded at $1.37. 51,758,249 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 49,491,785 shares. The stock had previously closed at $1.45.

Analyst Ratings Changes

Separately, Roth Mkm lowered their target price on Tilray from $2.00 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, October 11th.

Tilray Price Performance

The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The business's fifty day moving average is $1.38 and its 200 day moving average is $1.62. The company has a market cap of $1.24 billion, a P/E ratio of -5.07 and a beta of 2.08.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The business's revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Activity at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now owns 26,000 shares of the company's stock, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray

A number of large investors have recently made changes to their positions in TLRY. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the 3rd quarter worth about $26,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Tilray in the second quarter worth about $34,000. Vista Capital Partners Inc. bought a new position in shares of Tilray in the third quarter valued at approximately $42,000. International Assets Investment Management LLC grew its stake in Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock valued at $42,000 after acquiring an additional 18,208 shares in the last quarter. Finally, Capital Management Associates Inc bought a new stake in Tilray during the 3rd quarter worth approximately $45,000. 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.