Tilray (NASDAQ:TLRY) Shares Down 6.9% - Should You Sell?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) were down 6.9% on Monday . The stock traded as low as $0.46 and last traded at $0.46. Approximately 7,461,491 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 28,119,215 shares. The stock had previously closed at $0.50.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TLRY shares. Piper Sandler decreased 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 reiterated a "neutral" rating on shares of Tilray in a research report on Monday, April 14th.

Tilray Price 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 $456.04 million, a P/E ratio of -1.51 and a beta of 1.95. The firm's fifty day moving average price is $0.53 and its 200-day moving average price is $0.96.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) 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 business had revenue of $185.78 million during the quarter, compared to analysts' expectations of $213.38 million. Analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Tidal Investments LLC lifted its position in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after buying an additional 889,086 shares during the period. Bank of Montreal Can raised its position in shares of Tilray by 14.4% in the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock worth $3,310,000 after purchasing an additional 312,476 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tilray by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after purchasing an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Tilray by 54.8% in the 4th 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tilray by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock worth $2,613,000 after buying an additional 286,481 shares in the last quarter. 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.

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