Tilray (NASDAQ:TLRY) PT Lowered to $12.00

Tilray (NASDAQ:TLRY) had its price target reduced by analysts at Roth Capital from $25.00 to $12.00 in a report released on Thursday, The Fly reports. The firm currently has a “neutral” rating on the stock. Roth Capital’s price target points to a potential downside of 1.40% from the stock’s current price.

Several other equities research analysts have also commented on TLRY. CIBC lowered shares of Tilray from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Thursday, June 10th. Piper Sandler decreased their price objective on shares of Tilray from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, September 10th. MKM Partners reiterated a “hold” rating and issued a $16.00 price objective on shares of Tilray in a research note on Thursday, July 29th. Alliance Global Partners decreased their price objective on shares of Tilray from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, August 18th. Finally, Zacks Investment Research lowered shares of Tilray from a “hold” rating to a “sell” rating in a research note on Thursday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tilray presently has an average rating of “Hold” and an average target price of $17.52.

NASDAQ:TLRY opened at $12.17 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.56 and a current ratio of 2.20. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of -6.51 and a beta of 2.61. Tilray has a 52 week low of $4.41 and a 52 week high of $67.00. The firm has a 50-day moving average price of $13.81 and a two-hundred day moving average price of $17.36.

In related news, Director Brendan Kennedy sold 300,000 shares of Tilray stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $14.08, for a total value of $4,224,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.17% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in TLRY. State of New Jersey Common Pension Fund D bought a new position in Tilray in the 1st quarter valued at $1,713,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tilray by 634.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,106 shares of the company’s stock valued at $252,000 after purchasing an additional 9,594 shares during the period. Koshinski Asset Management Inc. bought a new position in Tilray in the 1st quarter valued at $251,000. Hellman Jordan Management Co. Inc. MA bought a new position in Tilray in the 1st quarter valued at $1,364,000. Finally, Arizona State Retirement System boosted its holdings in Tilray by 153.5% in the 1st quarter. Arizona State Retirement System now owns 36,855 shares of the company’s stock valued at $838,000 after purchasing an additional 22,314 shares during the period. 11.34% of the stock is owned by hedge funds and other 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 Nanaimo, Canada.

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