Tilray (NASDAQ:TLRY) Trading Down 4.2% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 4.2% on Tuesday . The company traded as low as $1.36 and last traded at $1.36. 7,995,080 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 25,484,080 shares. The stock had previously closed at $1.42.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered 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 4.9 %

The company has a 50 day moving average of $1.60 and a 200 day moving average of $1.73. 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 firm has a market cap of $1.22 billion, a price-to-earnings ratio of -5.04 and a beta of 2.14.

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

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was purchased 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 owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake 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 in the last quarter. Bank of Montreal Can raised 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 valued at $3,787,000 after purchasing an additional 7,406 shares during the last quarter. Arizona State Retirement System boosted its position in Tilray by 4.4% during the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after acquiring an additional 9,171 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Tilray by 58.1% during the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after purchasing an additional 11,632 shares in 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 owned by 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.