Tilray (NASDAQ:TLRY) Trading Down 2.1% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) dropped 2.1% during trading on Friday . The stock traded as low as $0.42 and last traded at $0.43. Approximately 5,221,837 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 28,453,358 shares. The stock had previously closed at $0.44.

Analysts Set New Price Targets

A number of research firms have recently commented on TLRY. Canaccord Genuity Group raised their target price on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Roth Capital reissued a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Finally, Piper Sandler reduced their target price on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th.

Tilray Stock Down 2.5%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The firm has a market capitalization of $450.91 million, a PE ratio of -1.49 and a beta of 1.95. The company has a fifty day moving average price of $0.55 and a 200-day moving average price of $0.99.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The firm had revenue of $185.78 million for the quarter, compared to the consensus estimate of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. As a group, analysts expect that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

Several institutional investors have recently added to or reduced their stakes in TLRY. JPMorgan Chase & Co. raised its holdings in shares of Tilray by 112.7% during the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after purchasing an additional 487,051 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Tilray by 174.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock worth $112,000 after purchasing an additional 53,751 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Tilray in the fourth quarter valued at about $255,000. Quinn Opportunity Partners LLC boosted its holdings in shares of Tilray by 108.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after purchasing an additional 840,000 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Tilray by 9.9% in the 4th quarter. Arizona State Retirement System now owns 261,233 shares of the company's stock worth $347,000 after acquiring an additional 23,439 shares during the last quarter. 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.