Tilray (NASDAQ:TLRY) Stock Price Down 7.8% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s share price dropped 7.8% on Tuesday . The stock traded as low as $0.59 and last traded at $0.60. Approximately 17,704,220 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 44,489,898 shares. The stock had previously closed at $0.65.

Analyst Ratings Changes

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

Tilray Trading Down 6.3 %

The firm has a market cap of $571.59 million, a PE ratio of -2.03 and a beta of 2.13. The company’s fifty day moving average price is $1.04 and its two-hundred day moving average price is $1.37. 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 announced its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $216.34 million. The company’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank grew its holdings in Tilray by 53.0% in the 4th quarter. Toronto Dominion Bank now owns 197,207 shares of the company’s stock valued at $260,000 after buying an additional 68,284 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tilray by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock valued at $2,613,000 after purchasing an additional 286,481 shares during the period. Two Sigma Advisers LP increased its position in Tilray by 81.7% during the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock worth $219,000 after purchasing an additional 74,100 shares during the last quarter. Tidal Investments LLC raised its stake in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after purchasing an additional 889,086 shares during the period. Finally, State of Wyoming boosted its holdings in shares of Tilray by 78.0% in the 4th quarter. State of Wyoming now owns 103,489 shares of the company’s stock valued at $138,000 after purchasing an additional 45,361 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.