Tilray (NASDAQ:TLRY) Trading Down 1.6% - Time to Sell?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price was down 1.6% on Monday . The stock traded as low as $0.44 and last traded at $0.44. Approximately 6,636,035 shares traded hands during trading, a decline of 83% from the average daily volume of 39,372,070 shares. The stock had previously closed at $0.45.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Piper Sandler dropped their price objective on Tilray from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, Roth Capital reissued a "neutral" rating on shares of Tilray in a research report on Monday, April 14th.

Tilray Price Performance

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 company has a market capitalization of $490.26 million, a P/E ratio of -1.62 and a beta of 1.88. The company has a 50 day moving average price of $0.62 and a 200 day moving average price of $1.09.

Tilray (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. On average, equities analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently made changes to their positions in TLRY. Newman Dignan & Sheerar Inc. lifted its holdings in Tilray by 61.9% during the 4th 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 during the last quarter. Tower Research Capital LLC TRC increased its position in Tilray by 55.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after buying an additional 11,325 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Tilray by 92.1% during the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock worth $36,000 after buying an additional 13,136 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Tilray by 59.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock worth $49,000 after acquiring an additional 13,786 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in Tilray by 68.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock worth $47,000 after purchasing an additional 14,221 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.