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

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Tilray Inc (NASDAQ:TLRY) 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 changing hands.

A number of research analysts have recently issued reports on TLRY shares. Eight Capital cut shares of Tilray from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Tuesday, March 3rd. Oppenheimer reiterated a “hold” rating on shares of Tilray in a research note on Tuesday, June 16th. Jefferies Financial Group cut shares of Tilray from a “hold” rating to an “underperform” rating and set a $5.00 target price for the company. in a research note on Thursday, April 16th. Benchmark cut their target price on shares of Tilray from $28.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus lifted their target price on shares of Tilray from $5.50 to $6.50 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $12.63.

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

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

In other news, Director Michael Auerbach sold 220,711 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $7.38, for a total value of $1,628,847.18. Following the transaction, the director now owns 588,306 shares of the company’s stock, valued at approximately $4,341,698.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brendan Kennedy sold 350,000 shares of the business’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 directly owns 4,515,127 shares of the company’s stock, valued at approximately $37,024,041.40. The disclosure for this sale can be found here. In the last three months, insiders sold 687,377 shares of company stock worth $5,471,842. 16.75% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in TLRY. California Public Employees Retirement System grew its holdings in shares of Tilray by 192.0% in the 4th quarter. California Public Employees Retirement System now owns 25,400 shares of the company’s stock valued at $435,000 after buying an additional 16,700 shares during the period. Swiss National Bank grew its holdings in shares of Tilray by 4.0% in the 4th quarter. Swiss National Bank now owns 46,500 shares of the company’s stock valued at $797,000 after buying an additional 1,800 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Tilray in the 4th quarter valued at $129,000. Advisor Group Inc. grew its holdings in shares of Tilray by 15.3% in the 4th quarter. Advisor Group Inc. now owns 17,864 shares of the company’s stock valued at $307,000 after buying an additional 2,368 shares during the period. Finally, Credit Suisse AG grew its holdings in shares of Tilray by 22.6% in the 4th quarter. Credit Suisse AG now owns 16,384 shares of the company’s stock valued at $281,000 after buying an additional 3,016 shares during the period. 7.94% of the stock is owned by 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.

Further Reading: Understanding dividend yield and dividend payout ratio

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