Tilray (NASDAQ:TLRY) Stock Price Down 1.1% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 1.1% during mid-day trading on Tuesday . The company traded as low as $1.31 and last traded at $1.35. 12,742,859 shares were traded during trading, a decline of 52% from the average session volume of 26,348,602 shares. The stock had previously closed at $1.36.

Wall Street Analysts Forecast Growth

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

Tilray Stock Down 2.2 %

The business has a fifty day simple moving average of $1.40 and a two-hundred day simple moving average of $1.63. 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 company has a market cap of $1.20 billion, a PE ratio of -4.93 and a beta of 2.09.

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

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. JPMorgan Chase & Co. grew its position in Tilray by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock valued at $760,000 after acquiring an additional 105,803 shares in the last quarter. Synovus Financial Corp grew its position in Tilray by 176.7% in the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock valued at $64,000 after acquiring an additional 23,046 shares in the last quarter. Barclays PLC grew its position in Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after acquiring an additional 174,997 shares in the last quarter. Toronto Dominion Bank grew its position in Tilray by 454.5% in the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock valued at $227,000 after acquiring an additional 105,671 shares in the last quarter. Finally, XTX Topco Ltd grew its position in Tilray by 1,079.7% in the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after acquiring an additional 257,641 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray

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.