Tilray (NASDAQ:TLRY) Shares Down 2.3% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 2.3% during trading on Tuesday . The stock traded as low as $1.28 and last traded at $1.29. 9,181,452 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 25,460,131 shares. The stock had previously closed at $1.32.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reduced their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Stock Performance

The company’s 50-day moving average price is $1.63 and its two-hundred day moving average price is $1.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same period last year, the company posted ($0.10) EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of Tilray

Hedge funds have recently bought and sold shares of the business. Prospect Financial Services LLC acquired a new stake in Tilray in the 2nd quarter valued at $26,000. Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray in the 3rd quarter valued at $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray in the 2nd quarter valued at $29,000. Jeppson Wealth Management LLC acquired a new stake in Tilray in the 2nd quarter valued at $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in Tilray in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.