Tilray (NASDAQ:TLRY) Stock Price Down 5.5% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price was down 5.5% during mid-day trading on Friday . The stock traded as low as $0.56 and last traded at $0.58. Approximately 9,565,965 shares were traded during trading, a decline of 68% from the average daily volume of 29,918,027 shares. The stock had previously closed at $0.62.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their target price on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th.

Tilray Price Performance

The company has a market capitalization of $555.28 million, a price-to-earnings ratio of -1.97 and a beta of 1.88. 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 company’s 50 day simple moving average is $0.80 and its 200-day simple moving average is $1.23.

Tilray (NASDAQ:TLRY) last announced its 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). The firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lido Advisors LLC acquired a new stake in Tilray in the 4th quarter worth about $28,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray in the fourth quarter worth approximately $29,000. Dudley Capital Management LLC purchased a new stake in Tilray in the fourth quarter valued at approximately $29,000. Ameritas Advisory Services LLC acquired a new position in Tilray during the fourth quarter worth approximately $32,000. Finally, Newman Dignan & Sheerar Inc. boosted its holdings in shares of Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.