Tilray (NASDAQ:TLRY) Now Covered by Analysts at Bank of America

Bank of America began coverage on shares of Tilray (NASDAQ:TLRY) in a research note issued to investors on Monday, The Fly reports. The firm issued a neutral rating and a $18.00 price objective on the stock.

TLRY has been the subject of several other research reports. ValuEngine raised shares of Tilray from a hold rating to a buy rating in a report on Wednesday, October 2nd. Jefferies Financial Group set a $25.00 price target on shares of Tilray and gave the stock a hold rating in a report on Friday, October 25th. Piper Jaffray Companies reduced their price target on shares of Tilray from $72.00 to $31.00 and set an overweight rating on the stock in a research report on Tuesday, October 22nd. Cantor Fitzgerald initiated coverage on shares of Tilray in a research note on Monday, November 4th. They issued a neutral rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Tilray from a sell rating to a hold rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $41.33.

Shares of NASDAQ:TLRY opened at $17.87 on Monday. The business’s fifty day moving average price is $17.64 and its two-hundred day moving average price is $28.16. Tilray has a fifty-two week low of $15.01 and a fifty-two week high of $106.00. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -21.79 and a beta of 3.87. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.54 and a quick ratio of 1.69.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). The company had revenue of $51.10 million during the quarter, compared to the consensus estimate of $49.57 million. Tilray had a negative net margin of 97.39% and a negative return on equity of 40.30%. The business’s revenue was up 411.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) earnings per share. Research analysts expect that Tilray will post -1.47 EPS for the current fiscal year.

In other Tilray news, CEO Brendan Kennedy sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $18.30, for a total value of $1,830,000.00. Following the completion of the sale, the chief executive officer now directly owns 153,303 shares in the company, valued at $2,805,444.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Auerbach sold 31,875 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $19.05, for a total transaction of $607,218.75. Following the completion of the sale, the director now owns 31,875 shares of the company’s stock, valued at $607,218.75. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in TLRY. Balyasny Asset Management LLC bought a new stake in shares of Tilray during the second quarter valued at approximately $616,000. Morgan Stanley lifted its stake in shares of Tilray by 44.2% during the 2nd quarter. Morgan Stanley now owns 330,527 shares of the company’s stock worth $15,390,000 after purchasing an additional 101,375 shares during the period. ETF Managers Group LLC purchased a new position in shares of Tilray in the 2nd quarter worth $92,004,000. Vanguard Group Inc. purchased a new position in shares of Tilray in the 2nd quarter worth $3,484,000. Finally, Bank of America Corp DE grew its stake in shares of Tilray by 465.0% during the second quarter. Bank of America Corp DE now owns 20,492 shares of the company’s stock valued at $955,000 after acquiring an additional 16,865 shares in the last quarter. 8.61% of the stock is currently owned by institutional investors.

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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The Fly

Analyst Recommendations for Tilray (NASDAQ:TLRY)

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