Tilray (NASDAQ:TLRY) Trading Down 4% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price was down 4% during mid-day trading on Wednesday . The stock traded as low as $0.46 and last traded at $0.47. Approximately 5,035,518 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 29,425,992 shares. The stock had previously closed at $0.49.

Analyst Ratings Changes

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

Tilray Stock Performance

The business's fifty day simple moving average is $0.59 and its 200-day simple moving average is $1.05. 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 $458.06 million, a PE ratio of -1.52 and a beta of 1.95.

Tilray (NASDAQ:TLRY - Get Free Report) last announced 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 net margin of 30.95% and a negative return on equity of 4.40%. As a group, equities research analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Institutional Trading of Tilray

A number of large investors have recently added to or reduced their stakes in TLRY. Tidal Investments LLC grew its holdings in shares of 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 in the last quarter. Bank of Montreal Can lifted its position in Tilray by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after purchasing an additional 312,476 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 buying an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tilray by 17.1% during 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 valued at $2,613,000 after buying an additional 286,481 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.