Tilray logoTilray (NASDAQ:TLRY) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued on Friday, Zacks.com reports.
Tilray (NASDAQ:TLRY) and Aphria (NASDAQ:APHA) to Form Huge New Pot Opportunity
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. "
Several other analysts also recently weighed in on TLRY. Stifel Nicolaus raised shares of Tilray from a "sell" rating to a "hold" rating in a research note on Thursday, December 17th. Cantor Fitzgerald upped their price objective on shares of Tilray from $11.00 to $24.20 and gave the company a "neutral" rating in a research note on Friday, January 15th. Finally, Jefferies Financial Group downgraded shares of Tilray from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $5.60 to $4.77 in a research note on Monday, November 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Tilray has an average rating of "Hold" and an average target price of $13.52.
High Times Ahead For Tilray (NASDAQ: TLRY) Tilray stock opened at $26.78 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $3.58 billion, a PE ratio of -5.90 and a beta of 3.12. The firm has a fifty day simple moving average of $13.74 and a two-hundred day simple moving average of $8.50. Tilray has a twelve month low of $2.43 and a twelve month high of $28.86.
Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Monday, November 9th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.19. The business had revenue of $51.41 million during the quarter, compared to the consensus estimate of $54.91 million. Tilray had a negative net margin of 242.60% and a negative return on equity of 92.70%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.36) earnings per share. As a group, equities analysts expect that Tilray will post -0.92 earnings per share for the current fiscal year.
Medical Marijuana Makes Tilray a Buy-on-the-Dip Pot Stock
Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its position in shares of Tilray by 345.2% during the second quarter. PNC Financial Services Group Inc. now owns 5,289 shares of the company's stock valued at $38,000 after buying an additional 4,101 shares during the period. Westside Investment Management Inc. increased its position in shares of Tilray by 17.4% during the fourth quarter. Westside Investment Management Inc. now owns 5,400 shares of the company's stock valued at $24,799,000 after buying an additional 800 shares during the period. Thoroughbred Financial Services LLC purchased a new position in shares of Tilray during the fourth quarter valued at about $86,000. Nuveen Asset Management LLC purchased a new position in shares of Tilray during the second quarter valued at about $92,000. Finally, AdvisorShares Investments LLC increased its position in shares of Tilray by 18.1% during the third quarter. AdvisorShares Investments LLC now owns 14,599 shares of the company's stock valued at $71,000 after buying an additional 2,234 shares during the period. Institutional investors own 12.62% of the company's stock.
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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