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

Shares of Tilray Inc (NASDAQ:TLRY) gapped down before the market opened on Friday . The stock had previously closed at $0.71, but opened at $0.70. Tilray shares last traded at $0.68, with a volume of 3,606,258 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $621.38 million, a PE ratio of -2.21 and a beta of 2.13. The business has a 50 day simple moving average of $0.85 and a 200 day simple moving average of $1.26.

Tilray (NASDAQ:TLRY) last released its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently made changes to their positions in TLRY. Lido Advisors LLC purchased a new stake in Tilray during the 4th quarter valued at about $28,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray during the fourth quarter worth about $29,000. Dudley Capital Management LLC purchased a new stake in Tilray in the fourth quarter valued at approximately $29,000. Ameritas Advisory Services LLC purchased a new position in Tilray during the 4th quarter worth approximately $32,000. Finally, Newman Dignan & Sheerar Inc. raised its position 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 buying an additional 10,000 shares during 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.