Tilray (NASDAQ:TLRY) Trading Down 3.4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares dropped 3.4% during mid-day trading on Friday . The stock traded as low as $1.42 and last traded at $1.43. Approximately 20,938,324 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 26,251,064 shares. The stock had previously closed at $1.48.

Analysts Set New Price Targets

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

Tilray Price Performance

The stock has a 50-day moving average price of $1.43 and a two-hundred day moving average price of $1.64. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -5.24 and a beta of 2.09. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates 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 company’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. As a group, equities research analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction on Friday, November 15th. The stock was bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a legal 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

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Tilray by 32.4% in the third quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock valued at $760,000 after buying an additional 105,803 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Tilray by 176.7% in the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock valued at $64,000 after acquiring an additional 23,046 shares during the last quarter. Barclays PLC increased its stake in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after acquiring an additional 174,997 shares during the period. Toronto Dominion Bank increased its stake in shares of Tilray by 454.5% in the third quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock worth $227,000 after acquiring an additional 105,671 shares during the period. Finally, XTX Topco Ltd raised its holdings in shares of Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares during the last quarter. 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.