Tilray (NASDAQ:TLRY) Trading Down 0.2% - Should You Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price traded down 0.2% during mid-day trading on Wednesday . The stock traded as low as $0.44 and last traded at $0.45. 12,721,637 shares were traded during mid-day trading, a decline of 55% from the average session volume of 28,082,218 shares. The stock had previously closed at $0.45.

Analyst Ratings Changes

Several analysts recently commented on the company. Roth Capital reaffirmed a "neutral" rating on shares of Tilray in a report on Monday, April 14th. Piper Sandler reduced their target price 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 Performance

The business's 50 day simple moving average is $0.53 and its two-hundred day simple moving average is $0.94. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $443.86 million, a PE ratio of -1.47 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) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $185.78 million during the quarter, compared to analysts' expectations of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Research analysts expect that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Tilray by 32.4% in the third quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company's stock worth $760,000 after purchasing an additional 105,803 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Tilray in the 4th quarter worth approximately $32,000. Madrona Financial Services LLC increased its stake in Tilray by 40.0% in the 4th quarter. Madrona Financial Services LLC now owns 70,000 shares of the company's stock worth $93,000 after buying an additional 20,000 shares during the period. KBC Group NV increased its stake in Tilray by 75.9% during the 4th quarter. KBC Group NV now owns 38,332 shares of the company's stock valued at $51,000 after purchasing an additional 16,539 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. increased its position in shares of Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after purchasing an additional 10,000 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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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