Tilray (NASDAQ:TLRY) Shares Down 5.2% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price dropped 5.2% on Friday . The stock traded as low as $0.68 and last traded at $0.68. Approximately 6,067,335 shares traded hands during trading, a decline of 80% from the average daily volume of 30,526,634 shares. The stock had previously closed at $0.71.

Analyst Upgrades and Downgrades

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

Tilray Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company has a market capitalization of $616.51 million, a PE ratio of -2.19 and a beta of 2.13. The business's 50 day simple moving average is $0.85 and its 200 day simple moving average is $1.26.

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 analysts' consensus estimates of ($0.03) by ($0.07). The business had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company's revenue was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

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Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. Bank of Montreal Can boosted its stake in Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock worth $3,787,000 after buying an additional 7,406 shares during the period. Newman Dignan & Sheerar Inc. boosted 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 worth $35,000 after purchasing an additional 10,000 shares during the period. Tower Research Capital LLC TRC boosted 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 worth $42,000 after purchasing an additional 11,325 shares during the period. NewEdge Advisors LLC increased its holdings in Tilray by 92.1% in the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after purchasing an additional 13,136 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Tilray by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock valued at $49,000 after purchasing an additional 13,786 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.