Tilray (NASDAQ:TLRY) Stock Price Down 1.1% – Should You Sell?

Tilray Inc (NASDAQ:TLRY) shares were down 1.1% during mid-day trading on Tuesday . The stock traded as low as $1.31 and last traded at $1.35. Approximately 12,742,859 shares changed hands during trading, a decline of 52% from the average daily volume of 26,348,602 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

Separately, Roth Mkm cut their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th.

Tilray Trading Down 2.2 %

The company’s fifty day moving average price is $1.40 and its 200-day moving average price is $1.63. 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 stock has a market cap of $1.20 billion, a price-to-earnings ratio of -4.93 and a beta of 2.09.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results 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 company had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the prior year, the company earned ($0.10) EPS. Tilray’s quarterly revenue was up 13.0% on a year-over-year basis. On average, research analysts expect that Tilray Inc will post -0.14 EPS 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 dated 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 purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. CIBC Asset Management Inc grew its stake in shares of Tilray by 13.3% during the 2nd quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock worth $1,445,000 after purchasing an additional 102,316 shares during the period. TD Asset Management Inc grew its stake in shares of Tilray by 8.1% during the 2nd quarter. TD Asset Management Inc now owns 1,373,045 shares of the company’s stock worth $2,278,000 after purchasing an additional 103,207 shares during the period. CapWealth Advisors LLC grew its stake in shares of Tilray by 21.1% during the 2nd quarter. CapWealth Advisors LLC now owns 108,960 shares of the company’s stock worth $181,000 after purchasing an additional 18,960 shares during the period. Arizona State Retirement System lifted its position in shares of Tilray by 4.4% during the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after buying an additional 9,171 shares in the last quarter. Finally, Jeppson Wealth Management LLC purchased a new position in shares of Tilray during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds 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.