Tilray (NASDAQ:TLRY) Stock Price Down 3.7% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares were down 3.7% on Thursday . The stock traded as low as $0.91 and last traded at $0.91. Approximately 16,658,641 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 47,119,441 shares. The stock had previously closed at $0.95.

Wall Street Analyst Weigh In

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

Tilray Trading Down 4.1 %

The stock has a market cap of $838.83 million, a PE ratio of -2.98 and a beta of 2.07. 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 stock has a fifty day moving average price of $1.20 and a 200 day moving average price of $1.48.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $210.90 million for the quarter, compared to analysts' expectations of $216.34 million. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

Several institutional investors have recently added to or reduced their stakes in TLRY. BNP Paribas Financial Markets raised its holdings in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after buying an additional 1,690,827 shares during the period. Tidal Investments LLC grew its position in Tilray by 9.2% in the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after acquiring an additional 889,086 shares during the last quarter. Quinn Opportunity Partners LLC increased its stake 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 during the period. Virtu Financial LLC bought a new stake in shares of Tilray during the fourth quarter worth $1,029,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after purchasing an additional 769,569 shares during the period. Institutional investors own 9.35% of the company's stock.

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.