Benchmark Lowers Tilray (NASDAQ:TLRY) to Sell

Benchmark downgraded shares of Tilray (NASDAQ:TLRYGet Rating) from a hold rating to a sell rating in a research report report published on Friday morning, MarketBeat reports. They currently have $3.00 target price on the stock.

A number of other research firms have also recently weighed in on TLRY. Canaccord Genuity Group lowered their target price on shares of Tilray from $9.00 to $7.00 in a research note on Wednesday, June 15th. Alliance Global Partners lowered their target price on shares of Tilray from $8.00 to $5.50 and set a neutral rating on the stock in a research note on Monday, May 2nd. Piper Sandler lowered their target price on shares of Tilray from $6.00 to $3.00 and set a neutral rating on the stock in a research note on Wednesday, June 15th. Roth Capital lowered their target price on shares of Tilray from $8.00 to $4.00 and set a neutral rating on the stock in a research note on Friday, July 15th. Finally, Cantor Fitzgerald restated a neutral rating and issued a $5.75 price target (down from $6.15) on shares of Tilray in a research report on Friday, June 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tilray currently has an average rating of Hold and an average price target of $7.27.

Tilray Stock Down 6.3 %

Tilray stock opened at $3.42 on Friday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -3.84 and a beta of 2.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.87 and a quick ratio of 1.99. Tilray has a fifty-two week low of $3.00 and a fifty-two week high of $15.25. The firm has a fifty day moving average price of $3.61 and a two-hundred day moving average price of $5.07.

Tilray (NASDAQ:TLRYGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.82). Tilray had a negative return on equity of 4.14% and a negative net margin of 71.52%. The company had revenue of $153.30 million for the quarter, compared to the consensus estimate of $151.53 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Tilray will post -0.18 earnings per share for the current year.

Insider Transactions at Tilray

In other news, Director Brendan Kennedy sold 350,000 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $3.09, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 7,624,196 shares of the company’s stock, valued at $23,558,765.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray

Several large investors have recently made changes to their positions in TLRY. AE Wealth Management LLC grew its position in Tilray by 10.5% in the fourth quarter. AE Wealth Management LLC now owns 26,830 shares of the company’s stock valued at $189,000 after purchasing an additional 2,559 shares in the last quarter. Kestra Advisory Services LLC grew its position in Tilray by 55.7% in the fourth quarter. Kestra Advisory Services LLC now owns 45,772 shares of the company’s stock valued at $322,000 after purchasing an additional 16,379 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Tilray by 9.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 281,130 shares of the company’s stock valued at $1,976,000 after purchasing an additional 24,129 shares in the last quarter. Dupont Capital Management Corp bought a new position in Tilray in the fourth quarter valued at $34,000. Finally, Qube Research & Technologies Ltd grew its position in Tilray by 2,914.7% in the fourth quarter. Qube Research & Technologies Ltd now owns 673,477 shares of the company’s stock valued at $4,735,000 after purchasing an additional 651,137 shares in the last quarter. Institutional investors own 13.84% of the company’s stock.

About Tilray

(Get Rating)

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 Nanaimo, Canada.

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