Tilray (NASDAQ:TLRY) Trading Down 4.3% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price dropped 4.3% on Wednesday . The stock traded as low as $1.22 and last traded at $1.23. Approximately 14,071,031 shares changed hands during trading, a decline of 45% from the average daily volume of 25,580,971 shares. The stock had previously closed at $1.28.

Analysts Set New Price Targets

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

Tilray Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -4.30 and a beta of 2.08. The business’s 50-day moving average price is $1.49 and its two-hundred day moving average price is $1.68.

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

Insiders Place Their Bets

In related news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after acquiring an additional 117,891 shares during the last quarter. Bank of Montreal Can increased its position in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares in the last quarter. State Street Corp raised its holdings in Tilray by 4.7% in 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 position in Tilray by 1,314.1% during the third 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tilray by 6.8% during the third 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 buying an additional 107,530 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.