Tilray (NASDAQ:TLRY) Shares Down 2.2% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price fell 2.2% during mid-day trading on Friday . The stock traded as low as $0.43 and last traded at $0.44. 4,460,673 shares changed hands during trading, a decline of 84% from the average session volume of 28,123,007 shares. The stock had previously closed at $0.45.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Roth Capital reiterated a "neutral" rating on shares of Tilray in a report on Monday, April 14th. Piper Sandler cut their price target on Tilray from $2.00 to $1.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th.

Tilray Price Performance

The company has a market capitalization of $446.18 million, a price-to-earnings ratio of -1.48 and a beta of 1.95. 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 company has a 50 day simple moving average of $0.51 and a 200 day simple moving average of $0.90.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its 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 business had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. As a group, research analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after purchasing an additional 769,569 shares during the period. JPMorgan Chase & Co. boosted its position in Tilray by 112.7% in the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock valued at $1,222,000 after buying an additional 487,051 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Tilray in the 4th quarter valued at about $255,000. Atria Wealth Solutions Inc. boosted 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 buying an additional 53,751 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in Tilray by 9.2% in the 4th 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 last quarter. 9.35% of the stock is owned by hedge funds and other 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.