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

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. “

Other equities research analysts also recently issued research reports about the company. Benchmark started coverage on Tilray in a report on Tuesday, October 16th. They set a “buy” rating and a $200.00 price target on the stock. Roth Capital started coverage on Tilray in a report on Tuesday, August 14th. They set a “buy” rating and a $35.00 price target on the stock. Northland Securities downgraded Tilray from an “outperform” rating to a “market perform” rating in a report on Thursday, September 6th. Finally, Cowen upped their price target on Tilray from $62.00 to $172.00 and gave the stock an “outperform” rating in a report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $135.67.

NASDAQ TLRY traded up $1.25 during trading hours on Friday, hitting $100.25. 1,590,377 shares of the company were exchanged, compared to its average volume of 1,795,639. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.98 and a current ratio of 5.43. Tilray has a 52-week low of $20.10 and a 52-week high of $300.00.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Tuesday, November 13th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.08). Tilray had a negative return on equity of 60.74% and a negative net margin of 121.22%. The company had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $10.25 million. The business’s revenue for the quarter was up 85.2% on a year-over-year basis. Sell-side analysts expect that Tilray will post -0.57 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. Captrust Financial Advisors purchased a new stake in Tilray during the 3rd quarter worth about $103,000. IFP Advisors Inc purchased a new position in shares of Tilray in the 3rd quarter valued at about $154,000. G&S Capital LLC purchased a new position in shares of Tilray in the 3rd quarter valued at about $155,000. Raging Capital Management LLC purchased a new position in shares of Tilray in the 3rd quarter valued at about $215,000. Finally, Independent Advisor Alliance purchased a new position in shares of Tilray in the 3rd quarter valued at about $216,000. Institutional investors own 6.08% of the company’s stock.

Tilray Company Profile

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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