Tilray (NASDAQ:TLRY) Shares Down 0.6% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares dropped 0.6% during trading on Tuesday . The stock traded as low as $0.67 and last traded at $0.68. Approximately 7,088,208 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 43,770,961 shares. The stock had previously closed at $0.68.

Analyst Upgrades and Downgrades

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

Tilray Stock Down 7.4 %

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company's fifty day moving average price is $0.87 and its 200-day moving average price is $1.27. The stock has a market capitalization of $619.79 million, a PE ratio of -2.20 and a beta of 2.13.

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

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock valued at $3,202,000 after buying an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Tilray in the third quarter worth approximately $1,348,000. Atria Wealth Solutions Inc. raised its stake in Tilray by 174.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock valued at $112,000 after buying an additional 53,751 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Tilray by 9.9% in the 4th quarter. Arizona State Retirement System now owns 261,233 shares of the company's stock worth $347,000 after buying an additional 23,439 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Tilray by 10.2% in the fourth quarter. Swiss National Bank now owns 1,776,638 shares of the company's stock worth $2,363,000 after acquiring an additional 164,600 shares during the period. 9.35% of the stock is owned by hedge funds and other 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.