Tilray (NASDAQ:TLRY) Trading Down 1.1% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price fell 1.1% during mid-day trading on Monday . The company traded as low as $0.93 and last traded at $0.93. 26,009,440 shares traded hands during trading, a decline of 41% from the average session volume of 44,451,032 shares. The stock had previously closed at $0.94.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price objective on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The stock’s 50 day moving average price is $1.20 and its two-hundred day moving average price is $1.49. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $874.65 million, a price-to-earnings ratio of -3.11 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last issued its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The company had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Deutsche Bank AG grew its stake in Tilray by 62.1% in the 4th quarter. Deutsche Bank AG now owns 75,840 shares of the company’s stock valued at $101,000 after acquiring an additional 29,054 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of Tilray by 27.5% in the fourth quarter. Cresset Asset Management LLC now owns 297,869 shares of the company’s stock valued at $396,000 after purchasing an additional 64,189 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Tilray by 69.5% during the 4th quarter. Cetera Investment Advisers now owns 208,257 shares of the company’s stock worth $277,000 after purchasing an additional 85,402 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Tilray during the 4th quarter worth approximately $266,000. Finally, Captrust Financial Advisors lifted its stake in Tilray by 535.5% in the 4th quarter. Captrust Financial Advisors now owns 115,825 shares of the company’s stock valued at $154,000 after buying an additional 97,600 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.