Tilray (NASDAQ:TLRY) Shares Gap Down to $7.95

Tilray Inc (NASDAQ:TLRY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $7.59, but opened at $7.95. Tilray shares last traded at $7.93, with a volume of 51,341 shares traded.

A number of research analysts have issued reports on the stock. Northland Securities restated a “hold” rating on shares of Tilray in a research report on Tuesday, May 12th. Zacks Investment Research upgraded shares of Tilray from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, June 2nd. Stifel Nicolaus increased their price target on shares of Tilray from $5.50 to $6.50 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald increased their price target on shares of Tilray from $4.90 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Tilray in a research report on Tuesday, March 3rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Tilray presently has a consensus rating of “Hold” and a consensus price target of $12.63.

The company has a debt-to-equity ratio of 2.63, a current ratio of 1.98 and a quick ratio of 1.42. The stock has a market cap of $887.76 million, a price-to-earnings ratio of -1.55 and a beta of 3.32. The business’s 50-day simple moving average is $8.91 and its two-hundred day simple moving average is $11.83.

Tilray (NASDAQ:TLRY) last issued its earnings results on Monday, May 11th. The company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($1.29). Tilray had a negative net margin of 241.79% and a negative return on equity of 62.82%. The company had revenue of $52.20 million during the quarter, compared to analyst estimates of $49.37 million. During the same quarter in the prior year, the business earned ($0.27) EPS. The business’s quarterly revenue was up 127.0% on a year-over-year basis. Equities research analysts forecast that Tilray Inc will post -0.9 earnings per share for the current year.

In other news, CEO Brendan Kennedy sold 350,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $8.20, for a total transaction of $2,870,000.00. Following the completion of the transaction, the chief executive officer now owns 4,515,127 shares of the company’s stock, valued at $37,024,041.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Auerbach sold 220,711 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $7.38, for a total transaction of $1,628,847.18. Following the transaction, the director now directly owns 588,306 shares of the company’s stock, valued at approximately $4,341,698.28. The disclosure for this sale can be found here. Insiders have sold 687,377 shares of company stock valued at $5,471,842 in the last ninety days. Insiders own 16.75% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TLRY. California Public Employees Retirement System raised its stake in shares of Tilray by 192.0% during the fourth quarter. California Public Employees Retirement System now owns 25,400 shares of the company’s stock valued at $435,000 after acquiring an additional 16,700 shares during the last quarter. Swiss National Bank raised its stake in Tilray by 4.0% during the fourth quarter. Swiss National Bank now owns 46,500 shares of the company’s stock worth $797,000 after buying an additional 1,800 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Tilray during the fourth quarter worth $129,000. Advisor Group Inc. raised its stake in Tilray by 15.3% during the fourth quarter. Advisor Group Inc. now owns 17,864 shares of the company’s stock worth $307,000 after buying an additional 2,368 shares during the last quarter. Finally, Credit Suisse AG raised its stake in Tilray by 22.6% during the fourth quarter. Credit Suisse AG now owns 16,384 shares of the company’s stock worth $281,000 after buying an additional 3,016 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Tilray Company Profile (NASDAQ:TLRY)

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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