Cantor Fitzgerald Trims Tilray (NASDAQ:TLRY) Target Price to $4.15

Tilray (NASDAQ:TLRYGet Rating) had its price target decreased by Cantor Fitzgerald from $5.75 to $4.15 in a report issued on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the stock.

TLRY has been the topic of a number of other reports. Benchmark cut Tilray from a hold rating to a sell rating and set a $3.00 target price on the stock. in a research note on Friday, July 29th. Barclays cut their price objective on shares of Tilray from $8.50 to $4.50 and set an underweight rating on the stock in a research note on Wednesday, April 20th. Piper Sandler cut their price objective on shares of Tilray from $6.00 to $3.00 and set a neutral rating on the stock in a research note on Wednesday, June 15th. Cowen cut their price objective on shares of Tilray from $23.00 to $9.00 in a research note on Friday, July 29th. Finally, Alliance Global Partners cut their price objective on shares of Tilray from $8.00 to $5.50 and set a neutral rating on the stock in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $7.15.

Tilray Price Performance

Tilray stock opened at $3.90 on Tuesday. Tilray has a 12-month low of $3.00 and a 12-month high of $15.21. The stock has a market capitalization of $1.94 billion, a P/E ratio of -4.38 and a beta of 2.57. The firm’s 50-day moving average is $3.57 and its two-hundred day moving average is $5.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.87 and a quick ratio of 1.99.

Tilray (NASDAQ:TLRYGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.82). Tilray had a negative net margin of 71.52% and a negative return on equity of 4.14%. The business had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $151.53 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts predict that Tilray will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Tilray

In other Tilray news, Director Brendan Kennedy sold 350,000 shares of Tilray stock in a transaction dated 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 transaction, the director now owns 7,624,196 shares of the company’s stock, valued at approximately $23,558,765.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.17% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Confluence Wealth Services Inc. acquired a new stake in Tilray in the 4th quarter worth approximately $30,000. Dupont Capital Management Corp acquired a new stake in Tilray in the 4th quarter worth approximately $34,000. Envestnet Asset Management Inc. acquired a new stake in Tilray in the 2nd quarter worth approximately $37,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Tilray by 320.0% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 5,250 shares of the company’s stock worth $41,000 after purchasing an additional 4,000 shares during the last quarter. Finally, GDS Wealth Management acquired a new stake in Tilray in the 2nd quarter worth approximately $44,000. 13.84% of the stock is currently owned by institutional investors and hedge funds.

Tilray Company Profile

(Get Rating)

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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