Tilray (NASDAQ:TLRY) Shares Down 3.3% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) dropped 3.3% during trading on Monday . The stock traded as low as $0.47 and last traded at $0.47. Approximately 6,555,894 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 29,443,533 shares. The stock had previously closed at $0.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group upped their price target on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Piper Sandler lowered their target price on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, Roth Capital restated a "neutral" rating on shares of Tilray in a research report on Monday, April 14th.

Tilray Trading Down 4.7 %

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $470.03 million, a P/E ratio of -1.56 and a beta of 1.88. The firm's 50-day simple moving average is $0.61 and its 200-day simple moving average is $1.07.

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

Institutional Investors Weigh In On Tilray

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company's stock worth $3,452,000 after acquiring an additional 88,079 shares during the period. Barclays PLC raised its stake in Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company's stock valued at $359,000 after buying an additional 174,997 shares during the last quarter. Synovus Financial Corp boosted its holdings in Tilray by 176.7% in the third quarter. Synovus Financial Corp now owns 36,092 shares of the company's stock worth $64,000 after acquiring an additional 23,046 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Tilray by 32.4% in the third quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company's stock worth $760,000 after acquiring an additional 105,803 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in Tilray by 59.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 50,438 shares of the company's stock worth $67,000 after buying an additional 18,792 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.