Tilray (NASDAQ:TLRY) Trading Down 7.7% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares dropped 7.7% during trading on Thursday . The stock traded as low as $0.43 and last traded at $0.44. Approximately 18,260,827 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 29,344,328 shares. The stock had previously closed at $0.48.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TLRY shares. Piper Sandler cut their price objective on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Canaccord Genuity Group increased 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. Finally, Roth Capital reissued a "neutral" rating on shares of Tilray in a report on Monday.

Tilray Trading Down 5.4 %

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $421.94 million, a P/E ratio of -1.50 and a beta of 1.88. The firm's 50-day simple moving average is $0.67 and its 200 day simple moving average is $1.13.

Tilray (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $185.78 million for the quarter, compared to the consensus estimate of $213.38 million. Equities research analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in shares of Tilray by 9.2% during the fourth 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 period. Quinn Opportunity Partners LLC grew its stake in shares of Tilray by 108.0% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock valued at $2,152,000 after buying an additional 840,000 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Tilray during the 4th quarter worth $1,029,000. Dimensional Fund Advisors LP raised its holdings in shares of Tilray by 54.8% during the 4th 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 in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Tilray in the 4th quarter valued at $879,000. 9.35% of the stock is 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.