Tilray (NASDAQ:TLRY) Now Covered by MKM Partners

MKM Partners initiated coverage on shares of Tilray (NASDAQ:TLRY) in a research note published on Thursday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $34.00 target price on the stock.

Several other research firms have also recently commented on TLRY. Northland Securities restated a hold rating on shares of Tilray in a report on Wednesday, August 14th. Oppenheimer assumed coverage on shares of Tilray in a report on Tuesday, June 4th. They set a market perform rating on the stock. Zacks Investment Research cut shares of Tilray from a buy rating to a sell rating in a report on Friday, August 16th. Benchmark lowered their price target on shares of Tilray from $200.00 to $80.00 and set a buy rating on the stock in a report on Wednesday, August 14th. Finally, Compass Point lowered their price target on shares of Tilray from $41.00 to $38.00 and set a sell rating on the stock in a report on Monday, June 17th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $55.14.

NASDAQ TLRY opened at $29.00 on Thursday. Tilray has a twelve month low of $25.15 and a twelve month high of $178.85. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.61 and a current ratio of 2.04. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -35.37 and a beta of 4.52. The firm’s 50 day moving average price is $33.41 and its two-hundred day moving average price is $46.83.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Tilray had a negative net margin of 121.73% and a negative return on equity of 37.64%. The company had revenue of $45.90 million for the quarter, compared to analysts’ expectations of $40.25 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The company’s revenue was up 373.2% on a year-over-year basis. On average, research analysts forecast that Tilray will post -1.17 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in TLRY. Bank of America Corp DE lifted its stake in shares of Tilray by 48.9% in the 4th quarter. Bank of America Corp DE now owns 2,019 shares of the company’s stock valued at $143,000 after purchasing an additional 663 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Tilray by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,502 shares of the company’s stock valued at $360,000 after purchasing an additional 489 shares during the last quarter. National Asset Management Inc. acquired a new stake in shares of Tilray in the 1st quarter valued at $362,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Tilray by 56.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,386 shares of the company’s stock valued at $680,000 after purchasing an additional 3,759 shares during the last quarter. Finally, Regal Investment Advisors LLC acquired a new stake in shares of Tilray in the 1st quarter valued at $201,000. 7.63% of the stock is owned by institutional investors and hedge funds.

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 Nanaimo, Canada.

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Analyst Recommendations for Tilray (NASDAQ:TLRY)

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