Tilray (NASDAQ:TLRY) Stock Price Down 2.2% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares fell 2.2% during trading on Wednesday . The stock traded as low as $1.28 and last traded at $1.33. 36,453,961 shares were traded during mid-day trading, an increase of 38% from the average session volume of 26,444,244 shares. The stock had previously closed at $1.36.

Wall Street Analyst Weigh In

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

Tilray Stock Performance

The stock’s 50 day simple moving average is $1.40 and its two-hundred day simple moving average is $1.63. The company has a market capitalization of $1.32 billion, a P/E ratio of -5.41 and a beta of 2.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last posted 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). The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. Tilray’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, research analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were bought 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 in the company, valued at $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tilray

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray during the 3rd quarter worth about $26,000. Jeppson Wealth Management LLC acquired a new position in Tilray during the second quarter valued at approximately $33,000. Vanguard Capital Wealth Advisors bought a new stake in Tilray in the second quarter valued at approximately $34,000. Vista Capital Partners Inc. acquired a new stake in Tilray in the third quarter worth $42,000. Finally, International Assets Investment Management LLC boosted its position in shares of Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after purchasing an additional 18,208 shares in the last quarter. Institutional investors 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.