Tilray (NASDAQ:TLRY) Stock Price Down 1.6% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price was down 1.6% on Monday . The stock traded as low as $0.44 and last traded at $0.44. Approximately 6,636,035 shares traded hands during trading, a decline of 83% from the average daily volume of 39,372,070 shares. The stock had previously closed at $0.45.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TLRY shares. Canaccord Genuity Group raised their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Piper Sandler dropped their target price on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Roth Capital restated a "neutral" rating on shares of Tilray in a research report on Monday, April 14th.

Tilray Stock Performance

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $420.91 million, a PE ratio of -1.50 and a beta of 1.88. The firm's 50-day simple moving average is $0.65 and its two-hundred day simple moving average is $1.11.

Tilray (NASDAQ:TLRY - Get Free Report) last posted 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). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company had revenue of $185.78 million for the quarter, compared to analysts' expectations of $213.38 million. On average, equities research analysts expect that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently modified their holdings of the stock. Atria Wealth Solutions Inc. boosted its holdings in Tilray by 174.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock worth $112,000 after purchasing an additional 53,751 shares in the last quarter. Quinn Opportunity Partners LLC boosted its holdings in Tilray by 108.0% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after purchasing an additional 840,000 shares in the last quarter. Arizona State Retirement System boosted its holdings in Tilray by 9.9% in the fourth quarter. Arizona State Retirement System now owns 261,233 shares of the company's stock worth $347,000 after purchasing an additional 23,439 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Tilray in the fourth quarter worth $255,000. Finally, Swiss National Bank boosted its holdings in 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 purchasing an additional 164,600 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other 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.