Tilray (NASDAQ:TLRY) released its quarterly earnings results on Tuesday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.09), Briefing.com reports. Tilray had a negative return on equity of 43.71% and a negative net margin of 159.09%. The firm had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $40.25 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. Tilray’s revenue for the quarter was up 373.2% compared to the same quarter last year.
Shares of TLRY opened at $46.02 on Wednesday. The stock has a market capitalization of $4.14 billion and a price-to-earnings ratio of -56.12. The company has a quick ratio of 2.06, a current ratio of 2.35 and a debt-to-equity ratio of 1.13. Tilray has a 1-year low of $24.00 and a 1-year high of $300.00. The firm’s fifty day moving average is $44.19.
Several equities analysts have issued reports on TLRY shares. Compass Point cut their price target on shares of Tilray from $41.00 to $38.00 and set a “sell” rating on the stock in a report on Monday, June 17th. Consumer Edge started coverage on shares of Tilray in a report on Friday, June 28th. They issued an “overweight” rating and a $54.00 price target on the stock. Northland Securities reaffirmed a “hold” rating on shares of Tilray in a report on Wednesday. BMO Capital Markets raised shares of Tilray from an “underperform” rating to a “market perform” rating and set a $50.58 price target on the stock in a report on Wednesday, May 15th. Finally, Oppenheimer started coverage on shares of Tilray in a report on Tuesday, June 4th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Tilray currently has a consensus rating of “Hold” and a consensus target price of $74.56.
Institutional investors and hedge funds have recently made changes to their positions in the company. Regal Investment Advisors LLC acquired a new position in Tilray during the first quarter valued at $201,000. Millennium Management LLC lifted its position in Tilray by 255.6% during the fourth quarter. Millennium Management LLC now owns 8,402 shares of the company’s stock valued at $593,000 after purchasing an additional 6,039 shares during the period. Hellman Jordan Management Co. Inc. MA acquired a new position in Tilray during the first quarter valued at $3,276,000. Synovus Financial Corp lifted its position in Tilray by 2,500.0% during the first quarter. Synovus Financial Corp now owns 1,040 shares of the company’s stock valued at $69,000 after purchasing an additional 1,000 shares during the period. Finally, National Asset Management Inc. acquired a new position in Tilray during the first quarter valued at $362,000. 2.28% of the stock is currently owned by hedge funds and other institutional investors.
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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