Tilray (NASDAQ:TLRY) Shares Down 2.4% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares were down 2.4% during mid-day trading on Friday . The stock traded as low as $0.74 and last traded at $0.74. Approximately 9,635,211 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 45,825,211 shares. The stock had previously closed at $0.76.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Trading Down 3.3 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company has a market capitalization of $689.18 million, a price-to-earnings ratio of -2.45 and a beta of 2.07. The business’s 50-day moving average price is $1.13 and its two-hundred day moving average price is $1.43.

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

Hedge Funds Weigh In On Tilray

Hedge funds have recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray during the 3rd quarter worth approximately $26,000. Lido Advisors LLC bought a new stake in Tilray during the fourth quarter worth $28,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray in the 4th quarter valued at $29,000. Dudley Capital Management LLC bought a new position in shares of Tilray in the 4th quarter valued at $29,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Tilray in the 4th quarter valued at $32,000. 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.