Tilray (NASDAQ:TLRY) Shares Gap Down – Should You Sell?

Tilray Inc (NASDAQ:TLRY) gapped down prior to trading on Friday . The stock had previously closed at $0.71, but opened at $0.70. Tilray shares last traded at $0.68, with a volume of 3,606,258 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three investment 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, the stock presently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

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 firm has a 50-day moving average of $0.87 and a 200 day moving average of $1.27. The stock has a market capitalization of $623.54 million, a P/E ratio of -2.22 and a beta of 2.13.

Tilray (NASDAQ:TLRY) 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 for 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 firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray

Several large investors have recently modified their holdings of the stock. Bank of Montreal Can lifted its position in shares of Tilray by 0.3% during the 3rd 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. The Manufacturers Life Insurance Company raised its stake in Tilray by 4.9% during the third quarter. The Manufacturers Life Insurance Company now owns 715,672 shares of the company’s stock worth $1,260,000 after acquiring an additional 33,194 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after acquiring an additional 1,690,827 shares during the period. CreativeOne Wealth LLC acquired a new stake in shares of Tilray during the 3rd quarter worth about $127,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tilray by 6.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares in the last quarter. 9.35% of the stock is currently 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.