Tilray (NASDAQ:TLRY) Stock Price Down 5.2% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price dropped 5.2% during trading on Friday . The stock traded as low as $1.00 and last traded at $1.01. Approximately 18,431,789 shares traded hands during trading, a decline of 60% from the average daily volume of 46,106,742 shares. The stock had previously closed at $1.06.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price objective on Tilray from $2.00 to $3.00 and gave the stock 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $2.70.

Tilray Trading Up 1.1 %

The stock has a market cap of $890.12 million, a price-to-earnings ratio of -3.16 and a beta of 2.07. 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 business's fifty day simple moving average is $1.22 and its 200 day simple moving average is $1.51.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company's revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the business's stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray

A number of institutional investors have recently modified their holdings of TLRY. BNP Paribas Financial Markets increased its holdings in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock valued at $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Tilray in the 4th quarter valued at about $1,029,000. Point72 Asset Management L.P. acquired a new position in Tilray during the 3rd quarter worth approximately $1,348,000. JPMorgan Chase & Co. boosted its holdings in Tilray by 112.7% during the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after purchasing an additional 487,051 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Tilray by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock valued at $3,200,000 after acquiring an additional 403,371 shares in the last quarter. 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.