Tilray (NASDAQ:TLRY) Trading Down 1.1% – Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY) fell 1.1% on Monday . The company traded as low as $0.93 and last traded at $0.93. 26,009,440 shares were traded during trading, a decline of 41% from the average session volume of 44,451,032 shares. The stock had previously closed at $0.94.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their target price on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.70.

Tilray Stock Down 1.1 %

The firm has a 50-day moving average price of $1.20 and a two-hundred day moving average price of $1.49. 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 firm has a market cap of $874.65 million, a price-to-earnings ratio of -3.11 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data 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 firm had revenue of $210.90 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. On average, sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray in the 3rd quarter valued at $26,000. Lido Advisors LLC acquired a new position in Tilray in the fourth quarter valued at $28,000. Verdence Capital Advisors LLC purchased a new stake in shares of Tilray in the fourth quarter valued at about $29,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray during the fourth quarter worth about $29,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Tilray during the fourth quarter worth about $32,000. Hedge funds and other institutional investors 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.