Tilray (NASDAQ:TLRY) Shares Down 0.7% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s share price dropped 0.7% during trading on Tuesday . The stock traded as low as $1.38 and last traded at $1.42. Approximately 37,942,801 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 26,177,992 shares. The stock had previously closed at $1.43.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Stock Down 1.4 %

The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -5.22 and a beta of 2.09. The firm has a 50 day moving average price of $1.43 and a two-hundred day moving average price of $1.65.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same quarter last year, the firm posted ($0.10) earnings per share. Tilray’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the third quarter valued at about $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray during the 2nd quarter valued at approximately $29,000. Jeppson Wealth Management LLC purchased a new stake in Tilray during the 2nd quarter worth approximately $33,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Tilray in the 2nd quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after buying an additional 18,208 shares during 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.