Tilray (NASDAQ:TLRY) Trading Down 2.5% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price fell 2.5% during trading on Thursday . The stock traded as low as $0.84 and last traded at $0.85. 10,613,839 shares traded hands during trading, a decline of 77% from the average session volume of 46,799,211 shares. The stock had previously closed at $0.87.

Wall Street Analysts Forecast Growth

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 research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Tilray has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Price Performance

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 company’s 50 day moving average price is $1.18 and its 200-day moving average price is $1.47. The company has a market cap of $808.26 million, a price-to-earnings ratio of -2.87 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (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 analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC raised its holdings in Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after buying an additional 889,086 shares during the period. Bank of Montreal Can raised its holdings in shares of Tilray by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock valued at $3,310,000 after acquiring an additional 312,476 shares during the period. Geode Capital Management LLC lifted its position 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. Dimensional Fund Advisors LP lifted its position in shares of Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock valued at $2,890,000 after acquiring an additional 769,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tilray by 17.1% in the 4th 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 purchasing an additional 286,481 shares during the period. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.