Tilray (NASDAQ:TLRY) Stock Price Down 2.3% – Should You Sell?

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 2.3% during mid-day trading on Tuesday . The stock traded as low as $1.28 and last traded at $1.29. Approximately 9,181,452 shares changed hands during trading, a decline of 64% from the average daily volume of 25,460,131 shares. The stock had previously closed at $1.32.

Analysts Set New Price Targets

Separately, Roth Mkm cut their target price 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 Trading Down 0.4 %

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 stock has a market capitalization of $1.19 billion, a PE ratio of -4.78 and a beta of 2.14. The business’s 50-day moving average is $1.65 and its two-hundred day moving average is $1.76.

Tilray (NASDAQ:TLRY) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 return on equity of 2.00% and a negative net margin of 26.79%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) EPS. On average, analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price 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 approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Prospect Financial Services LLC purchased a new position in shares of Tilray during the second quarter worth about $26,000. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray in the 3rd quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Tilray in the second quarter valued at approximately $29,000. Jeppson Wealth Management LLC purchased a new stake in shares of Tilray during the second quarter worth approximately $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in shares of Tilray during the second quarter worth $34,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.