Tilray (NASDAQ:TLRY) Sets New 1-Year Low – Time to Sell?

Shares of Tilray Inc (NASDAQ:TLRY) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.13 and last traded at $1.15, with a volume of 7493427 shares changing hands. The stock had previously closed at $1.17.

Analyst Ratings Changes

TLRY has been the topic of a number of research reports. Canaccord Genuity Group raised their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Roth Mkm reduced their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Tilray has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The business’s 50 day moving average price is $1.31 and its 200-day moving average price is $1.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price 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 of the company’s stock, valued at $35,360. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by insiders.

Institutional Trading of Tilray

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Tilray in the third quarter valued at about $1,348,000. Bank of Montreal Can raised its stake in Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares in the last quarter. Creative Planning lifted its holdings in Tilray by 36.6% during the 3rd quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after buying an additional 38,054 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Tilray by 11.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after buying an additional 70,605 shares during 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.