Tilray (NASDAQ:TLRY) Shares Down 1.3% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares were down 1.3% during mid-day trading on Thursday . The stock traded as low as $1.11 and last traded at $1.12. Approximately 10,779,707 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 42,243,230 shares. The stock had previously closed at $1.13.

Wall Street Analysts Forecast Growth

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

Tilray Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company’s 50 day simple moving average is $1.30 and its 200 day simple moving average is $1.58. The company has a market capitalization of $1.07 billion, a PE ratio of -3.80 and a beta of 2.08.

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

Insider Activity

In related news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several hedge funds have recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the 3rd quarter worth $26,000. Ameritas Advisory Services LLC acquired a new stake in Tilray in the fourth quarter valued at about $32,000. International Assets Investment Management LLC boosted its holdings in Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after purchasing an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. acquired a new position in Tilray during the 3rd quarter worth approximately $42,000. Finally, Capital Management Associates Inc purchased a new position in shares of Tilray during the 3rd quarter worth approximately $45,000. 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.