Tilray (NASDAQ:TLRY) Shares Down 4.4% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price was down 4.4% during mid-day trading on Thursday . The stock traded as low as $0.42 and last traded at $0.42. Approximately 8,618,002 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 28,309,297 shares. The stock had previously closed at $0.44.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TLRY shares. Piper Sandler reduced their target price on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a report on Monday, April 14th.

Tilray Stock Down 8.5%

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $456.04 million, a P/E ratio of -1.51 and a beta of 1.95. The business has a 50-day moving average price of $0.53 and a 200 day moving average price of $0.96.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $185.78 million during the quarter, compared to the consensus estimate of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. On average, equities analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC grew its stake in Tilray by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Quinn Opportunity Partners LLC boosted its holdings in Tilray by 108.0% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after acquiring an additional 840,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in Tilray in the fourth quarter worth about $1,029,000. Dimensional Fund Advisors LP boosted its holdings in Tilray by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after acquiring an additional 769,569 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Tilray in the fourth quarter worth about $879,000. 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.