Tilray (NASDAQ:TLRY) Reaches New 52-Week Low – Should You Sell?

Tilray Inc (NASDAQ:TLRY) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $1.15 and last traded at $1.16, with a volume of 25338252 shares trading hands. The stock had previously closed at $1.16.

Analysts Set New Price Targets

Separately, Roth Mkm lowered their target price 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 Trading Up 8.6 %

The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.14 billion, a P/E ratio of -4.67 and a beta of 2.08. The business has a fifty day moving average price of $1.44 and a 200 day moving average price of $1.65.

Tilray (NASDAQ:TLRY) last released its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray

Several large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after acquiring an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tilray in the 3rd quarter valued at about $1,348,000. Bank of Montreal Can lifted its stake in Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares during the last quarter. XTX Topco Ltd grew its holdings in Tilray by 1,079.7% during the third 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. Finally, Barclays PLC increased its position in Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after buying an additional 174,997 shares during the last quarter. 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.