Tilray (NASDAQ:TLRY) Shares Down 6.9% – Time to Sell?

Shares of Tilray Inc (NASDAQ:TLRY) fell 6.9% on Monday . The company traded as low as $0.46 and last traded at $0.46. 7,461,491 shares traded hands during trading, a decline of 73% from the average session volume of 28,119,215 shares. The stock had previously closed at $0.50.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TLRY. Roth Capital reaffirmed a “neutral” rating on shares of Tilray in a research report on Monday, April 14th. Piper Sandler dropped their price target on Tilray from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th.

Tilray Stock Down 8.5%

The firm has a market capitalization of $456.04 million, a PE ratio of -1.51 and a beta of 1.95. The company has a fifty day moving average price of $0.53 and a 200-day moving average price of $0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last released its quarterly 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 company had revenue of $185.78 million for the quarter, compared to analysts’ expectations of $213.38 million. As a group, analysts expect that Tilray Inc will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray

Several institutional investors have recently made changes to their positions in TLRY. Lido Advisors LLC purchased a new position in Tilray in the fourth quarter valued at about $28,000. Dudley Capital Management LLC purchased a new position in Tilray in the fourth quarter valued at about $29,000. Verdence Capital Advisors LLC purchased a new position in Tilray in the fourth quarter valued at about $29,000. Ameritas Advisory Services LLC purchased a new position in Tilray in the fourth quarter valued at about $32,000. Finally, Newman Dignan & Sheerar Inc. grew its stake in Tilray by 61.9% in 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 last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.