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

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on TLRY. Roth Capital restated a "neutral" rating on shares of Tilray in a report on Monday, April 14th. Piper Sandler decreased their target price on shares of Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th.

Tilray Stock Performance

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 stock has a market cap of $431.79 million, a P/E ratio of -1.43 and a beta of 1.95. The firm's 50-day moving average is $0.54 and its two-hundred day moving average is $0.98.

Tilray (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $185.78 million during the quarter, compared to analyst estimates 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, research analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted 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 buying an additional 487,051 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after buying an additional 769,569 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in Tilray by 174.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock valued at $112,000 after purchasing an additional 53,751 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Tilray during the 4th quarter worth about $255,000. Finally, Quinn Opportunity Partners LLC lifted its position in 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 buying an additional 840,000 shares in the last quarter. Institutional investors own 9.35% of the company's stock.

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.

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