Tilray (NASDAQ:TLRY) PT Raised to $8.00

Tilray (NASDAQ:TLRY) had its price target upped by MKM Partners from $5.00 to $8.00 in a research report released on Tuesday morning, The Fly reports. MKM Partners currently has a hold rating on the stock.

A number of other analysts have also issued reports on TLRY. Cowen lowered shares of Tilray from an outperform rating to a market perform rating and dropped their price target for the stock from $40.00 to $20.00 in a research note on Monday, February 24th. Roth Capital dropped their price target on shares of Tilray from $15.00 to $4.00 in a research note on Monday, March 23rd. Consumer Edge lowered shares of Tilray from an overweight rating to an equal weight rating in a research note on Thursday, April 9th. Seaport Global Securities restated a neutral rating on shares of Tilray in a research note on Tuesday, March 3rd. Finally, Eight Capital downgraded shares of Tilray from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. Tilray currently has a consensus rating of Hold and an average target price of $17.23.

TLRY opened at $10.26 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.42 and a debt-to-equity ratio of 2.42. The firm’s 50 day moving average is $7.20 and its 200-day moving average is $14.05. Tilray has a 52-week low of $2.43 and a 52-week high of $51.03.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($1.29). The company had revenue of $52.20 million during the quarter, compared to the consensus estimate of $49.37 million. Tilray had a negative return on equity of 62.82% and a negative net margin of 241.79%. The firm’s quarterly revenue was up 127.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.27) EPS. On average, sell-side analysts anticipate that Tilray will post -0.59 EPS for the current year.

In other Tilray news, Director Michael Auerbach sold 220,711 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $7.38, for a total transaction of $1,628,847.18. Following the completion of the sale, the director now owns 588,306 shares of the company’s stock, valued at $4,341,698.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.75% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in TLRY. Verus Capital Partners LLC acquired a new position in shares of Tilray during the fourth quarter worth approximately $35,000. Tower Research Capital LLC TRC lifted its holdings in shares of Tilray by 69.3% during the first quarter. Tower Research Capital LLC TRC now owns 7,765 shares of the company’s stock worth $53,000 after buying an additional 3,178 shares during the last quarter. Dfpg Investments LLC acquired a new position in shares of Tilray during the first quarter worth approximately $68,000. Thoroughbred Financial Services LLC acquired a new position in shares of Tilray during the first quarter worth approximately $72,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Tilray by 710.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,587 shares of the company’s stock worth $79,000 after buying an additional 4,021 shares during the last quarter. 8.45% of the stock is owned by hedge funds and other 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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