Tilray (NASDAQ:TLRY) Stock Price Down 1.4% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 1.4% on Wednesday . The stock traded as low as $0.60 and last traded at $0.60. 18,506,751 shares changed hands during trading, a decline of 58% from the average session volume of 44,526,711 shares. The stock had previously closed at $0.61.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report 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, the company has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The firm has a fifty day moving average of $0.99 and a 200 day moving average of $1.35. The company has a market capitalization of $571.88 million, a P/E ratio of -2.03 and a beta of 2.13. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last announced its 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 firm had revenue of $210.90 million during 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%. Tilray’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after buying an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Tilray during the 3rd quarter valued at approximately $1,348,000. Atria Wealth Solutions Inc. raised its stake in Tilray by 174.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company’s stock valued at $112,000 after purchasing an additional 53,751 shares during the period. Barclays PLC raised its stake in Tilray by 600.4% during the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares during the period. Finally, IFP Advisors Inc raised its stake in Tilray by 107.5% during the 4th quarter. IFP Advisors Inc now owns 133,523 shares of the company’s stock valued at $178,000 after purchasing an additional 69,184 shares during the period. 9.35% of the stock is owned by hedge funds and other 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.