Tilray’s (TLRY) “Maintains” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their maintains rating on shares of Tilray (NASDAQ:TLRY – Get Rating) in a report released on Tuesday, Benzinga reports.

A number of other equities research analysts have also recently issued reports on TLRY. Roth Capital decreased their target price on Tilray from $8.00 to $4.00 and set a neutral rating for the company in a research report on Friday, July 15th. Alliance Global Partners decreased their target price on Tilray from $8.00 to $5.50 and set a neutral rating for the company in a research report on Monday, May 2nd. Cowen decreased their target price on Tilray from $23.00 to $9.00 in a research report on Friday, July 29th. Piper Sandler decreased their target price on Tilray from $6.00 to $3.00 and set a neutral rating for the company in a research report on Wednesday, June 15th. Finally, Barclays reduced their price objective on Tilray from $8.50 to $4.50 and set an underweight rating for the company in a research report on Wednesday, April 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Tilray has a consensus rating of Hold and an average target price of $7.27.

Tilray Trading Up 14.0 %

NASDAQ:TLRY opened at $3.90 on Tuesday. The stock’s 50 day moving average price is $3.60 and its 200 day moving average price is $5.06. Tilray has a 52 week low of $3.00 and a 52 week high of $15.25. The company has a market capitalization of $1.94 billion, a P/E ratio of -4.38 and a beta of 2.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.99 and a current ratio of 2.87.

Tilray (NASDAQ:TLRY – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.82). The firm had revenue of $153.30 million during the quarter, compared to analyst estimates of $151.53 million. Tilray had a negative return on equity of 4.14% and a negative net margin of 71.52%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) EPS. On average, research analysts forecast that Tilray will post -0.18 EPS for the current fiscal year.

Insider Activity at Tilray

In other Tilray news, Director Brendan Kennedy sold 350,000 shares of the 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 completion of the transaction, the director now directly owns 7,624,196 shares in the company, valued at $23,558,765.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sheaff Brock Investment Advisors LLC raised its stake in Tilray by 98.3% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 20,170 shares of the company’s stock worth $63,000 after acquiring an additional 10,000 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Tilray by 19.4% in the second quarter. Victory Capital Management Inc. now owns 114,071 shares of the company’s stock valued at $356,000 after buying an additional 18,559 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Tilray by 133.3% in the second quarter. SG Americas Securities LLC now owns 214,625 shares of the company’s stock valued at $670,000 after buying an additional 122,614 shares in the last quarter. Traynor Capital Management Inc. increased its stake in shares of Tilray by 41.5% in the second quarter. Traynor Capital Management Inc. now owns 22,521 shares of the company’s stock valued at $70,000 after buying an additional 6,609 shares in the last quarter. Finally, QCM Cayman Ltd. acquired a new stake in shares of Tilray in the second quarter valued at $141,000. 13.84% of the stock is currently owned by institutional investors and hedge funds.

About Tilray

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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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