Tilray’s (TLRY) Hold Rating Reaffirmed at Northland Securities

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

TLRY has been the topic of a number of other reports. BMO Capital Markets raised Tilray from an underperform rating to a market perform rating and set a $50.58 price target on the stock in a research report on Wednesday, May 15th. Compass Point dropped their price target on Tilray from $41.00 to $38.00 and set a sell rating on the stock in a research report on Monday, June 17th. Consumer Edge started coverage on Tilray in a research report on Friday, June 28th. They issued an overweight rating and a $54.00 price target on the stock. LADENBURG THALM/SH SH started coverage on Tilray in a research report on Wednesday, July 17th. They issued a neutral rating on the stock. Finally, Stifel Nicolaus started coverage on Tilray in a research report on Wednesday, June 5th. They issued a hold rating and a $37.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $67.24.

Shares of TLRY traded down $3.42 during mid-day trading on Wednesday, reaching $35.62. The company had a trading volume of 1,797,602 shares, compared to its average volume of 862,142. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.35 and a quick ratio of 2.06. The stock’s 50-day moving average is $44.04. Tilray has a 52 week low of $26.11 and a 52 week high of $300.00. The stock has a market capitalization of $4.13 billion and a P/E ratio of -43.44.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). Tilray had a negative return on equity of 43.71% and a negative net margin of 159.09%. The company had revenue of $45.90 million during the quarter, compared to the consensus estimate of $40.25 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. The business’s revenue for the quarter was up 373.2% compared to the same quarter last year. On average, research analysts anticipate that Tilray will post -0.92 earnings per share for the current year.

In other Tilray news, Director Christine St.Clare sold 4,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $50.01, for a total transaction of $200,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ETF Managers Group LLC purchased a new stake in shares of Tilray in the 2nd quarter worth $92,004,000. Zevenbergen Capital Investments LLC increased its stake in shares of Tilray by 37.1% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 730,280 shares of the company’s stock worth $47,848,000 after purchasing an additional 197,540 shares in the last quarter. Morgan Stanley increased its stake in shares of Tilray by 44.2% in the 2nd quarter. Morgan Stanley now owns 330,527 shares of the company’s stock worth $15,390,000 after purchasing an additional 101,375 shares in the last quarter. Vanguard Group Inc. purchased a new stake in shares of Tilray in the 2nd quarter worth $3,484,000. Finally, Stelac Advisory Services LLC purchased a new stake in shares of Tilray in the 2nd quarter worth $3,000,000. Institutional investors and hedge funds own 2.28% of the company’s stock.

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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