Tilray (NASDAQ:TLRY) Trading Down 0.2% – Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY) fell 0.2% during trading on Thursday . The stock traded as low as $1.66 and last traded at $1.68. 8,909,557 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 25,071,973 shares. The stock had previously closed at $1.68.

Wall Street Analysts Forecast Growth

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

Tilray Stock Down 1.8 %

The business has a 50-day moving average price of $1.72 and a 200 day moving average price of $1.80. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.49 billion, a P/E ratio of -6.21 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $218.70 million. During the same quarter last year, the business earned ($0.10) earnings per share. Tilray’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Tilray Inc will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its position in shares of Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after purchasing an additional 10,648,403 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after acquiring an additional 355,778 shares during the period. Virtu Financial LLC bought a new stake in shares of Tilray in the 1st quarter worth about $586,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tilray by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after acquiring an additional 213,834 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Tilray by 1,077.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock worth $284,000 after purchasing an additional 156,524 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

About Tilray

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.