Tilray (NASDAQ:TLRY) Shares Down 0.6% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares traded down 0.6% during trading on Tuesday . The company traded as low as $0.67 and last traded at $0.68. 7,088,208 shares were traded during mid-day trading, a decline of 84% from the average session volume of 43,770,961 shares. The stock had previously closed at $0.68.

Wall Street Analysts Forecast Growth

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

Tilray Stock Up 9.0 %

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 cap of $669.49 million, a P/E ratio of -2.38 and a beta of 2.13. The firm’s 50 day moving average is $0.87 and its two-hundred day moving average is $1.28.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $216.34 million. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lido Advisors LLC bought a new stake in shares of Tilray in the fourth quarter valued at about $28,000. Dudley Capital Management LLC acquired a new stake in Tilray in the 4th quarter valued at approximately $29,000. Verdence Capital Advisors LLC bought a new stake in Tilray in the 4th quarter valued at approximately $29,000. Ameritas Advisory Services LLC acquired a new position in Tilray during the 4th quarter worth approximately $32,000. Finally, Newman Dignan & Sheerar Inc. grew its stake in shares of Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after acquiring an additional 10,000 shares in the last quarter. 9.35% of the stock is 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.