Tilray (NASDAQ:TLRY) Stock Price Down 2.6% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares were down 2.6% on Monday . The company traded as low as $1.30 and last traded at $1.32. Approximately 7,440,839 shares traded hands during trading, a decline of 71% from the average daily volume of 25,435,211 shares. The stock had previously closed at $1.35.

Wall Street Analyst Weigh In

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

Tilray Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company has a fifty day simple moving average of $1.64 and a two-hundred day simple moving average of $1.76. The firm has a market capitalization of $1.18 billion, a PE ratio of -4.85 and a beta of 2.14.

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 analysts’ consensus estimates of ($0.04). The company had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) earnings per share. Analysts forecast that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray during the third quarter valued at about $26,000. Prospect Financial Services LLC purchased a new stake in Tilray during the second quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the second quarter valued at approximately $29,000. Jeppson Wealth Management LLC acquired a new stake in Tilray in the second quarter valued at approximately $33,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Tilray in the second quarter valued at about $37,000. 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.