Tilray (NASDAQ:TLRY) Shares Down 2.3% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares fell 2.3% during mid-day trading on Tuesday . The company traded as low as $1.28 and last traded at $1.29. 9,181,452 shares changed hands during trading, a decline of 64% from the average session volume of 25,460,131 shares. The stock had previously closed at $1.32.

Wall Street Analyst Weigh In

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

Tilray Trading Down 1.5 %

The stock’s fifty day moving average is $1.63 and its two-hundred day moving average is $1.75. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

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

Insider Activity at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the 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 purchase, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after purchasing an additional 7,339 shares during the last quarter. Bank of Montreal Can increased its position in shares of Tilray by 0.3% in the third 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 during the last quarter. Arizona State Retirement System increased its position in shares of Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after purchasing an additional 9,171 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of Tilray by 58.1% in the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after purchasing an additional 11,632 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray in the third quarter worth approximately $26,000. 9.35% of the stock is currently owned by 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.