Piper Sandler Issues Pessimistic Forecast for Tilray (NASDAQ:TLRY) Stock Price

Tilray (NASDAQ:TLRY) had its price target reduced by investment analysts at Piper Sandler from $2.00 to $1.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 115.52% from the company’s previous close.

Separately, Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.35.

Tilray Stock Up 1.7 %

Shares of Tilray stock traded up $0.01 during midday trading on Wednesday, hitting $0.46. The company’s stock had a trading volume of 4,659,107 shares, compared to its average volume of 29,692,637. The firm has a market capitalization of $435.07 million, a P/E ratio of -1.55 and a beta of 1.88. Tilray has a 1-year low of $0.45 and a 1-year high of $2.52. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $0.77 and a 200-day simple moving average of $1.20.

Tilray (NASDAQ:TLRY) last issued its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. As a group, sell-side analysts expect that Tilray will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

A number of large investors have recently bought and sold shares of the business. Tidal Investments LLC increased its holdings in shares of Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after acquiring an additional 889,086 shares during the last quarter. Quinn Opportunity Partners LLC increased its stake in shares of Tilray by 108.0% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock worth $2,152,000 after purchasing an additional 840,000 shares during the period. Virtu Financial LLC bought a new stake in Tilray during the 4th quarter valued at approximately $1,029,000. Dimensional Fund Advisors LP increased its position in Tilray by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after buying an additional 769,569 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Tilray in the third quarter valued at approximately $1,348,000. 9.35% of the stock is currently owned by institutional investors.

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 Canada.