Tilray (NASDAQ:TLRY) Stock Price Down 5.4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price fell 5.4% during mid-day trading on Friday . The company traded as low as $0.43 and last traded at $0.45. 44,059,783 shares changed hands during mid-day trading, an increase of 50% from the average session volume of 29,397,973 shares. The stock had previously closed at $0.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TLRY shares. Piper Sandler decreased their price target on Tilray from $2.00 to $1.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Roth Capital reiterated a “neutral” rating on shares of Tilray in a research report on Monday, April 14th. Finally, Canaccord Genuity Group raised their price target on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th.

Tilray Trading Down 5.4 %

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 business has a fifty day simple moving average of $0.67 and a 200 day simple moving average of $1.13. The stock has a market cap of $421.94 million, a price-to-earnings ratio of -1.50 and a beta of 1.88.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. As a group, equities analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC grew its position in shares of Tilray by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after purchasing an additional 889,086 shares during the period. Bank of Montreal Can grew its holdings in Tilray by 14.4% in the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock valued at $3,310,000 after buying an additional 312,476 shares during the period. Geode Capital Management LLC increased its stake in shares of Tilray by 20.1% during 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 during the last quarter. Dimensional Fund Advisors LP lifted 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 worth $2,890,000 after acquiring an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tilray by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock worth $2,613,000 after acquiring an additional 286,481 shares during the last quarter. 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.