Tilray (NASDAQ:TLRY) Trading Down 6.3% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) was down 6.3% on Monday . The company traded as low as $1.33 and last traded at $1.34. Approximately 21,174,358 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 26,304,537 shares. The stock had previously closed at $1.43.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their price objective 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 company’s 50 day simple moving average is $1.41 and its 200-day simple moving average is $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 firm has a market cap of $1.20 billion, a P/E ratio of -4.93 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, meeting 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 during the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Research analysts forecast that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired 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 directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

A number of institutional investors and hedge funds have recently made changes to their positions in TLRY. JPMorgan Chase & Co. increased its holdings in Tilray by 32.4% during the third quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock valued at $760,000 after buying an additional 105,803 shares during the last quarter. Synovus Financial Corp grew its position in shares of Tilray by 176.7% during 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 during the period. Barclays PLC increased its stake in shares of Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Tilray by 454.5% in the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock worth $227,000 after purchasing an additional 105,671 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Tilray by 1,079.7% in the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares during the period. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Company Profile

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.