Tilray (NASDAQ:TLRY) Stock Price Down 1.4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares were down 1.4% on Tuesday . The company traded as low as $1.08 and last traded at $1.09. Approximately 12,897,415 shares changed hands during trading, a decline of 69% from the average daily volume of 41,539,746 shares. The stock had previously closed at $1.10.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TLRY shares. Roth Mkm dropped their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group lifted their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock 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 issued a buy rating to the company. Based on data from MarketBeat, Tilray currently has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Trading Up 8.7 %

The firm’s 50-day moving average price is $1.28 and its 200-day moving average price is $1.56. The company has a market cap of $1.06 billion, a P/E ratio of -3.77 and a beta of 2.08. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Newman Dignan & Sheerar Inc. grew its position in shares of Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after buying an additional 10,000 shares during the period. KBC Group NV grew its position in Tilray by 75.9% during the 4th quarter. KBC Group NV now owns 38,332 shares of the company’s stock valued at $51,000 after purchasing an additional 16,539 shares during the last quarter. Madrona Financial Services LLC grew its position in Tilray by 40.0% during the 4th quarter. Madrona Financial Services LLC now owns 70,000 shares of the company’s stock valued at $93,000 after purchasing an additional 20,000 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Tilray during the 4th quarter valued at about $32,000. Finally, Pallas Capital Advisors LLC grew its position in Tilray by 59.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 50,438 shares of the company’s stock valued at $67,000 after purchasing an additional 18,792 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.