Tilray (NASDAQ:TLRY) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Tilray (NASDAQ:TLRY) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Tilray, Inc. is a pharmaceutical company. It develops cannabis based medicines, drugs, drops and oil products. Tilray, Inc. is based in NANAIMO, Canada. “

TLRY has been the subject of several other reports. LADENBURG THALM/SH SH initiated coverage on Acreage in a report on Wednesday. They issued a buy rating and a $18.00 price target for the company. BMO Capital Markets reduced their price target on Superior Gold from C$2.00 to C$1.50 in a report on Wednesday, May 15th. Compass Point reduced their price target on Tilray from $41.00 to $38.00 and set a sell rating for the company in a report on Monday, June 17th. Jefferies Financial Group raised their price target on Monster Beverage from $65.00 to $70.00 and gave the company a buy rating in a report on Friday, May 3rd. Finally, Consumer Edge initiated coverage on Canopy Growth in a report on Friday, June 28th. They issued an equal weight rating for the company. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Tilray presently has an average rating of Hold and a consensus target price of $76.97.

Shares of TLRY stock opened at $43.59 on Wednesday. The company has a 50 day moving average of $43.48. Tilray has a twelve month low of $21.50 and a twelve month high of $300.00. The company has a current ratio of 2.35, a quick ratio of 2.06 and a debt-to-equity ratio of 1.13.

Tilray (NASDAQ:TLRY) last announced its earnings results on Tuesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). Tilray had a negative net margin of 159.09% and a negative return on equity of 43.71%. The company had revenue of $23.00 million during the quarter, compared to analysts’ expectations of $20.50 million. The company’s quarterly revenue was up 194.9% on a year-over-year basis. On average, equities analysts expect that Tilray will post -0.92 EPS for the current year.

In other news, Director Christine St.Clare sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $50.01, for a total value of $200,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of TLRY. Commonwealth Equity Services LLC lifted its stake in shares of Tilray by 47.5% during the second quarter. Commonwealth Equity Services LLC now owns 26,599 shares of the company’s stock worth $1,238,000 after purchasing an additional 8,570 shares in the last quarter. Exane Derivatives lifted its stake in shares of Tilray by 1,177.3% during the second quarter. Exane Derivatives now owns 16,720 shares of the company’s stock worth $780,000 after purchasing an additional 15,411 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Tilray during the first quarter worth about $102,000. Belpointe Asset Management LLC lifted its stake in shares of Tilray by 61.5% during the first quarter. Belpointe Asset Management LLC now owns 2,350 shares of the company’s stock worth $154,000 after purchasing an additional 895 shares in the last quarter. Finally, Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Tilray during the first quarter worth about $3,276,000. 2.10% 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 Nanaimo, Canada.

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