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.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Cantor Fitzgerald decreased their target price on shares of Tilray from $5.75 to $4.15 and set a "neutral" rating for the company in a research report on Tuesday, August 2nd. Barclays decreased their target price on shares of Tilray from $8.50 to $4.50 and set an "underweight" rating for the company in a research report on Wednesday, April 20th. Canaccord Genuity Group decreased their target price on shares of Tilray from $9.00 to $7.00 in a research report on Wednesday, June 15th. Benchmark downgraded shares of Tilray from a "hold" rating to a "sell" rating and set a $3.00 target price for the company. in a research report on Friday, July 29th. Finally, Alliance Global Partners decreased their target price on shares of Tilray from $8.00 to $5.50 and set a "neutral" rating for the company in a research report on Monday, May 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.15.
Tilray Stock Up 4.4 %
Shares of TLRY traded up $0.17 during trading hours on Friday, reaching $4.02. The stock had a trading volume of 1,159,559 shares, compared to its average volume of 35,095,960. Tilray has a 12 month low of $3.00 and a 12 month high of $14.33. The firm has a 50-day simple moving average of $3.53 and a 200 day simple moving average of $4.97. The company has a current ratio of 2.87, a quick ratio of 1.99 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.46 and a beta of 2.57.
Tilray (NASDAQ:TLRY - Get Rating) last issued its earnings results on Thursday, July 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.27). Tilray had a negative return on equity of 4.14% and a negative net margin of 71.52%. The firm had revenue of $153.30 million during the quarter, compared to the consensus estimate of $151.53 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Tilray's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts predict that Tilray will post -0.18 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Tilray news, Director Brendan Kennedy sold 350,000 shares of the firm's stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $3.09, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 7,624,196 shares in the company, valued at approximately $23,558,765.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.17% of the stock is owned by company insiders.