Tilray (NASDAQ:TLRY) Shares Down 2.2% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 2.2% on Monday . The stock traded as low as $1.11 and last traded at $1.12. Approximately 10,951,973 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 41,894,934 shares. The stock had previously closed at $1.14.

Analysts Set New Price Targets

Several brokerages have recently commented on TLRY. Canaccord Genuity Group boosted 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. Roth Mkm cut their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The stock has a market capitalization of $989.23 million, a P/E ratio of -3.52 and a beta of 2.08. 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 50-day moving average price of $1.29 and a 200 day moving average price of $1.57.

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

Insider Buying and Selling

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of Tilray

A number of institutional investors have recently made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray in the third quarter worth $26,000. International Assets Investment Management LLC grew its holdings in Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after acquiring an additional 18,208 shares during the last quarter. Vista Capital Partners Inc. purchased a new position in shares of Tilray in the third quarter valued at about $42,000. Ameritas Advisory Services LLC bought a new position in shares of Tilray during the fourth quarter valued at about $32,000. Finally, Capital Management Associates Inc bought a new position in shares of Tilray during the third quarter valued at about $45,000. 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.