Tilray (NASDAQ:TLRY) Stock Price Down 4% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares traded down 4% during mid-day trading on Tuesday . The stock traded as low as $0.93 and last traded at $0.94. 19,908,105 shares were traded during trading, a decline of 59% from the average session volume of 48,111,836 shares. The stock had previously closed at $0.98.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $2.70.

Tilray Trading Down 1.1 %

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 company has a 50-day simple moving average of $1.20 and a 200 day simple moving average of $1.50. The firm has a market cap of $874.65 million, a PE ratio of -3.11 and a beta of 2.07.

Tilray (NASDAQ:TLRY - Get Free Report) last released 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 company had revenue of $210.90 million during the quarter, compared to analysts' expectations of $216.34 million. The business's revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

Hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company's stock valued at $70,000 after buying an additional 7,339 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock valued at $3,787,000 after buying an additional 7,406 shares in the last quarter. Newman Dignan & Sheerar Inc. lifted its position in shares of Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock valued at $35,000 after buying an additional 10,000 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Tilray by 55.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock valued at $42,000 after buying an additional 11,325 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in shares of Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company's stock valued at $52,000 after buying an additional 11,632 shares in the last quarter. Hedge funds and other 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.