Tilray (NASDAQ:TLRY) Shares Down 0.2% – Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY) were down 0.2% during trading on Friday . The stock traded as low as $0.85 and last traded at $0.87. Approximately 12,718,516 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 46,480,660 shares. The stock had previously closed at $0.87.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upped their target price on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Performance

The company has a market capitalization of $785.76 million, a P/E ratio of -2.79 and a beta of 2.07. The business has a 50 day moving average of $1.17 and a 200 day moving average of $1.47. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last posted its earnings results on Friday, January 10th. The company reported ($0.10) EPS 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 firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray

A number of large investors have recently made changes to their positions in the business. Ferguson Wellman Capital Management Inc. purchased a new position in Tilray in the third quarter worth about $26,000. Lido Advisors LLC bought a new stake in shares of Tilray in the 4th quarter valued at approximately $28,000. Verdence Capital Advisors LLC purchased a new position in shares of Tilray in the 4th quarter worth approximately $29,000. Dudley Capital Management LLC bought a new position in shares of Tilray during the 4th quarter valued at approximately $29,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Tilray during the 4th quarter valued at $32,000. 9.35% of the stock is currently 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.