Tilray (NASDAQ:TLRY) Coverage Initiated at Cowen

Cowen began coverage on shares of Tilray (NASDAQ:TLRY) in a report published on Tuesday morning, The Fly reports. The brokerage issued an outperform rating on the stock.

Several other research firms have also weighed in on TLRY. Cantor Fitzgerald increased their target price on shares of Tilray from $24.20 to $30.25 and gave the stock a neutral rating in a report on Tuesday, February 16th. BMO Capital Markets raised their target price on shares of Tilray from $9.00 to $22.00 and gave the company a market perform rating in a research report on Thursday, February 18th. Alliance Global Partners increased their price target on Tilray from $18.00 to $32.00 and gave the stock a neutral rating in a research report on Thursday, February 18th. Bank of America started coverage on Tilray in a research note on Wednesday, April 28th. They set a buy rating for the company. Finally, Zacks Investment Research cut Tilray from a buy rating to a hold rating in a research note on Friday, February 5th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $21.20.

Shares of NASDAQ:TLRY opened at $13.93 on Tuesday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.61 and a current ratio of 2.28. The company has a market capitalization of $2.50 billion, a PE ratio of -3.07 and a beta of 3.12. Tilray has a 52 week low of $4.41 and a 52 week high of $67.00. The company’s fifty day moving average is $18.51 and its 200-day moving average is $16.75.

Tilray (NASDAQ:TLRY) last announced its earnings results on Wednesday, February 17th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.06. Tilray had a negative net margin of 242.60% and a negative return on equity of 92.70%. The company had revenue of $56.56 million for the quarter, compared to analyst estimates of $55.55 million. On average, analysts forecast that Tilray will post -0.92 EPS for the current year.

In other news, CFO Carl A. Merton sold 89,000 shares of the firm’s stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of $14.82, for a total transaction of $1,318,980.00. Following the completion of the transaction, the chief financial officer now owns 169,105 shares in the company, valued at $2,506,136.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 16.75% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. ETF Managers Group LLC grew its position in shares of Tilray by 7.9% during the 4th quarter. ETF Managers Group LLC now owns 6,973,209 shares of the company’s stock worth $57,599,000 after buying an additional 507,725 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Tilray by 538.9% in the first quarter. International Assets Investment Management LLC now owns 2,613 shares of the company’s stock worth $53,000 after purchasing an additional 2,204 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in shares of Tilray in the fourth quarter worth about $124,000. Iron Financial LLC purchased a new position in Tilray during the fourth quarter valued at approximately $192,000. Finally, Swiss National Bank raised its position in Tilray by 2.8% during the fourth quarter. Swiss National Bank now owns 113,400 shares of the company’s stock valued at $937,000 after acquiring an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 12.62% 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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The Fly

Analyst Recommendations for Tilray (NASDAQ:TLRY)

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