Tilray’s (TLRY) “Hold” Rating Reiterated at Northland Securities

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Northland Securities reaffirmed their hold rating on shares of Tilray (NASDAQ:TLRY) in a research report released on Wednesday, AnalystRatings.com reports.

TLRY has been the subject of a number of other reports. Compass Point decreased their price objective on Tilray from $41.00 to $38.00 and set a sell rating for the company in a research report on Monday, June 17th. Stifel Nicolaus began coverage on Tilray in a research report on Wednesday, June 5th. They set a hold rating and a $37.00 price objective for the company. Jefferies Financial Group raised Tilray from an underperform rating to a hold rating and decreased their price objective for the stock from $61.00 to $57.00 in a research report on Friday, May 3rd. Oppenheimer began coverage on Tilray in a research report on Tuesday, June 4th. They set a market perform rating for the company. Finally, Zacks Investment Research raised Tilray from a hold rating to a buy rating and set a $48.00 price objective for the company in a research report on Tuesday, August 13th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Tilray presently has a consensus rating of Hold and an average target price of $67.24.

Tilray stock opened at $31.31 on Wednesday. Tilray has a twelve month low of $28.88 and a twelve month high of $300.00. The stock has a 50 day moving average of $43.53 and a two-hundred day moving average of $54.88. The company has a current ratio of 2.04, a quick ratio of 2.06 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $3.80 billion and a price-to-earnings ratio of -38.18.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). Tilray had a negative return on equity of 37.64% and a negative net margin of 121.73%. The company had revenue of $45.90 million for the quarter, compared to analyst estimates of $40.25 million. During the same period in the previous year, the business posted ($0.17) earnings per share. The firm’s revenue was up 373.2% compared to the same quarter last year. Equities analysts predict that Tilray will post -0.98 earnings per share for the current year.

In other news, Director Christine St.Clare sold 4,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $50.01, for a total transaction of $200,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. ETF Managers Group LLC purchased a new position in Tilray in the 2nd quarter valued at approximately $92,004,000. Zevenbergen Capital Investments LLC increased its stake in Tilray by 37.1% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 730,280 shares of the company’s stock valued at $47,848,000 after purchasing an additional 197,540 shares in the last quarter. Morgan Stanley increased its stake in Tilray by 44.2% in the 2nd quarter. Morgan Stanley now owns 330,527 shares of the company’s stock valued at $15,390,000 after purchasing an additional 101,375 shares in the last quarter. Think Investments LP purchased a new position in Tilray in the 2nd quarter valued at approximately $7,031,000. Finally, Vanguard Group Inc. purchased a new position in Tilray in the 2nd quarter valued at approximately $3,484,000. 2.28% 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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