Tilray (NASDAQ:TLRY) Shares Down 1.3% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares traded down 1.3% during mid-day trading on Friday . The company traded as low as $0.40 and last traded at $0.41. 3,672,167 shares were traded during trading, a decline of 87% from the average session volume of 28,978,496 shares. The stock had previously closed at $0.42.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Piper Sandler cut their price objective 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 reiterated a "neutral" rating on shares of Tilray in a research note on Monday, April 14th.

Tilray Stock Up 4.6%

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 stock has a 50-day moving average of $0.45 and a 200-day moving average of $0.81. The firm has a market cap of $425.24 million, a price-to-earnings ratio of -1.41 and a beta of 1.83.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray

Several institutional investors have recently bought and sold shares of TLRY. Lido Advisors LLC bought a new stake in Tilray in the fourth quarter valued at about $28,000. Verdence Capital Advisors LLC acquired a new position in shares of Tilray during the fourth quarter worth about $29,000. Dudley Capital Management LLC acquired a new position in Tilray during the fourth quarter valued at approximately $29,000. Cerity Partners LLC acquired a new position in Tilray during the first quarter valued at approximately $31,000. Finally, Capital Management Associates Inc boosted its position in Tilray by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after purchasing an additional 25,380 shares during the last quarter. Institutional investors and hedge funds 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.