Zacks Investment Research Downgrades Tilray (NASDAQ:TLRY) to Sell

Tilray (NASDAQ:TLRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Tilray, Inc. is a pharmaceutical company. It develops cannabis based medicines, drugs, drops and oil products. Tilray, Inc. is based in NANAIMO, Canada. “

A number of other equities research analysts have also weighed in on TLRY. Vertical Group assumed coverage on shares of Tilray in a report on Friday, April 12th. They issued a “sell” rating on the stock. Consumer Edge assumed coverage on shares of Canopy Growth in a report on Friday, June 28th. They issued an “equal weight” rating on the stock. Piper Jaffray Companies reduced their price objective on shares of Tilray from $84.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Jefferies Financial Group raised their price objective on shares of Monster Beverage from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Oppenheimer assumed coverage on shares of Tilray in a report on Tuesday, June 4th. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $76.97.

TLRY traded up $0.40 on Wednesday, reaching $44.81. The company had a trading volume of 56,585 shares, compared to its average volume of 1,520,359. The firm has a fifty day moving average of $43.33. The stock has a market cap of $4.30 billion and a P/E ratio of -54.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.35 and a quick ratio of 2.06. Tilray has a one year low of $20.10 and a one year high of $300.00.

Tilray (NASDAQ:TLRY) last announced its earnings results on Tuesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.02). Tilray had a negative net margin of 159.09% and a negative return on equity of 43.71%. The company had revenue of $23.00 million during the quarter, compared to the consensus estimate of $20.50 million. The company’s revenue was up 194.9% on a year-over-year basis. Sell-side analysts forecast that Tilray will post -0.89 EPS for the current fiscal year.

In other Tilray news, Director Christine St.Clare sold 4,000 shares of Tilray stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $50.01, for a total value of $200,040.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zevenbergen Capital Investments LLC boosted its holdings in shares of Tilray by 37.1% in the first quarter. Zevenbergen Capital Investments LLC now owns 730,280 shares of the company’s stock valued at $47,848,000 after acquiring an additional 197,540 shares in the last quarter. Hellman Jordan Management Co. Inc. MA purchased a new stake in shares of Tilray in the first quarter valued at about $3,276,000. Stevens Capital Management LP purchased a new stake in shares of Tilray in the first quarter valued at about $2,106,000. Park West Asset Management LLC purchased a new stake in shares of Tilray in the fourth quarter valued at about $2,244,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of Tilray in the fourth quarter valued at about $2,119,000. Institutional investors own 2.10% of the company’s stock.

About Tilray

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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