Tilray (NASDAQ:TLRY) Shares Down 0.7% – Time to Sell?

Tilray Inc (NASDAQ:TLRY)’s share price was down 0.7% during mid-day trading on Tuesday . The company traded as low as $1.38 and last traded at $1.42. Approximately 37,942,801 shares changed hands 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.

Analyst Ratings Changes

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

Tilray Stock Down 1.4 %

The stock’s fifty day simple moving average is $1.43 and its two-hundred day simple moving average is $1.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -5.22 and a beta of 2.09.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting 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 in the prior year, the business earned ($0.10) earnings per share. Tilray’s quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $1.36 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several large investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. bought a new position in Tilray in the 3rd quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC acquired a new position in Tilray during the 2nd quarter worth $29,000. Jeppson Wealth Management LLC bought a new position in shares of Tilray in the second quarter worth $33,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Tilray during the second quarter valued at $34,000. Finally, Vista Capital Partners Inc. acquired a new position in shares of Tilray during the third quarter valued at $42,000. Institutional investors and hedge funds 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.