Tilray (NASDAQ:TLRY) Trading Down 3.7% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares fell 3.7% during mid-day trading on Monday . The company traded as low as $0.37 and last traded at $0.41. 13,826,480 shares were traded during mid-day trading, a decline of 51% from the average session volume of 28,337,311 shares. The stock had previously closed at $0.43.

Wall Street Analysts Forecast Growth

TLRY has been the topic of a number of analyst reports. Piper Sandler cut their price objective 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. Roth Capital reissued a "neutral" rating on shares of Tilray in a research note on Monday, April 14th.

Tilray Stock Down 1.7%

The stock has a market cap of $402.60 million, a P/E ratio of -1.33 and a beta of 1.95. The company's 50 day moving average price is $0.48 and its two-hundred day moving average price is $0.87. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its earnings results 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). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $185.78 million for the quarter, compared to the consensus estimate of $213.38 million. As a group, research analysts expect that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray

A number of hedge funds have recently added to or reduced their stakes in TLRY. KBC Group NV boosted its holdings in shares of Tilray by 75.9% in the 4th quarter. KBC Group NV now owns 38,332 shares of the company's stock valued at $51,000 after buying an additional 16,539 shares in the last quarter. Newman Dignan & Sheerar Inc. increased its stake in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock valued at $35,000 after purchasing an additional 10,000 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Tilray by 11.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,011,740 shares of the company's stock worth $1,335,000 after buying an additional 103,642 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Tilray by 174.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock worth $112,000 after buying an additional 53,751 shares during the last quarter. Finally, Alberta Investment Management Corp grew its holdings in shares of Tilray by 58.2% during the fourth quarter. Alberta Investment Management Corp now owns 668,800 shares of the company's stock valued at $884,000 after buying an additional 246,000 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.