Tilray (NASDAQ:TLRY) Stock Price Down 3.3% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price fell 3.3% during trading on Monday . The stock traded as low as $0.44 and last traded at $0.44. 8,674,650 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 28,561,329 shares. The stock had previously closed at $0.46.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TLRY. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a research report on Monday, April 14th. Canaccord Genuity Group upped their target price on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Piper Sandler cut their price target on Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th.

Tilray Stock Down 3.5 %

The business's fifty day moving average price is $0.56 and its two-hundred day moving average price is $1.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The firm has a market capitalization of $429.77 million, a P/E ratio of -1.42 and a beta of 1.95.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $213.38 million. Equities analysts expect that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

A number of institutional investors have recently bought and sold shares of TLRY. Lido Advisors LLC purchased a new stake in Tilray during the 4th quarter valued at about $28,000. Dudley Capital Management LLC purchased a new stake in Tilray in the fourth quarter valued at approximately $29,000. Verdence Capital Advisors LLC acquired a new stake in Tilray during the 4th quarter valued at approximately $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of Tilray in the fourth quarter worth $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its position in Tilray by 61.9% during the fourth 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 during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.