Tilray Inc (NASDAQ:TLRY) Given Average Rating of “Hold” by Brokerages

Shares of Tilray Inc (NASDAQ:TLRY) have earned an average rating of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.56.

TLRY has been the topic of several analyst reports. Piper Sandler dropped their price objective on Tilray from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, September 10th. Cantor Fitzgerald reduced their price objective on shares of Tilray from $24.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 27th. Alliance Global Partners dropped their target price on shares of Tilray from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 18th. Zacks Investment Research lowered shares of Tilray from a “hold” rating to a “sell” rating in a research note on Thursday, July 15th. Finally, CIBC downgraded Tilray from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research note on Thursday, June 10th.

In other news, Director Brendan Kennedy sold 300,000 shares of the business’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $14.67, for a total transaction of $4,401,000.00. Following the completion of the transaction, the director now owns 8,950,485 shares of the company’s stock, valued at $131,303,614.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 1,000,000 shares of company stock worth $15,813,000. Company insiders own 3.17% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D acquired a new stake in Tilray in the first quarter worth about $1,713,000. CWM LLC raised its position in shares of Tilray by 165.1% during the 1st quarter. CWM LLC now owns 1,328 shares of the company’s stock worth $30,000 after buying an additional 827 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Tilray in the 1st quarter worth approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tilray by 634.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,106 shares of the company’s stock valued at $252,000 after acquiring an additional 9,594 shares in the last quarter. Finally, Sandy Spring Bank increased its stake in shares of Tilray by 2,625.4% during the first quarter. Sandy Spring Bank now owns 5,478 shares of the company’s stock valued at $125,000 after acquiring an additional 5,277 shares during the period. Institutional investors and hedge funds own 11.34% of the company’s stock.

Tilray stock traded up $0.21 during midday trading on Friday, hitting $11.95. 473,471 shares of the stock were exchanged, compared to its average volume of 28,972,813. Tilray has a 1 year low of $4.41 and a 1 year high of $67.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.20 and a quick ratio of 1.56. The firm has a market cap of $5.35 billion, a P/E ratio of -6.48 and a beta of 2.61. The company has a 50 day moving average price of $13.98 and a two-hundred day moving average price of $17.44.

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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Analyst Recommendations for Tilray (NASDAQ:TLRY)

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