Tilray (NASDAQ:TLRY) Trading Down 0.7% - Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) dropped 0.7% during trading on Friday . The company traded as low as $1.35 and last traded at $1.36. Approximately 3,073,291 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 25,418,588 shares. The stock had previously closed at $1.37.

Analyst Ratings Changes

Separately, Roth Mkm decreased their price objective on Tilray from $2.00 to $1.75 and set a "neutral" rating on the stock in a report on Friday, October 11th.

Tilray Stock 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 firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -4.96 and a beta of 2.14. The stock has a fifty day moving average price of $1.57 and a 200-day moving average price of $1.72.

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

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares of the company's stock, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.87% of the company's stock.

Institutional Trading of Tilray

Several hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Tilray by 22.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company's stock worth $70,000 after purchasing an additional 7,339 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock valued at $3,787,000 after acquiring an additional 7,406 shares during the period. Arizona State Retirement System boosted its holdings in Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company's stock valued at $360,000 after acquiring an additional 9,171 shares during the last quarter. Pallas Capital Advisors LLC increased its position in Tilray by 58.1% in the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company's stock worth $52,000 after purchasing an additional 11,632 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in Tilray during the 3rd quarter worth about $26,000. 9.35% of the stock is owned by institutional investors.

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.