Tilray (NASDAQ:TLRY) Trading Down 1.9% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) was down 1.9% during mid-day trading on Tuesday . The stock traded as low as $1.31 and last traded at $1.32. Approximately 3,873,850 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 25,369,223 shares. The stock had previously closed at $1.34.

Analysts Set New Price Targets

Separately, 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.

Tilray Price Performance

The stock has a market cap of $1.16 billion, a P/E ratio of -4.87 and a beta of 2.09. The business has a 50 day simple moving average of $1.56 and a 200-day simple moving average of $1.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting 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 business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter last year, the company posted ($0.10) earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Tilray by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock valued at $8,707,000 after acquiring an additional 117,891 shares during the period. Bank of Montreal Can grew its holdings in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares in the last quarter. State Street Corp increased its position in shares of Tilray by 4.7% during the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after buying an additional 88,079 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tilray by 6.8% in 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. 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.