Tilray (NASDAQ:TLRY) Price Target Cut to $18.00

Tilray (NASDAQ:TLRY) had its target price cut by Cantor Fitzgerald from $19.00 to $18.00 in a research report report published on Friday morning, Price Targets.com reports. They currently have an overweight rating on the stock.

TLRY has been the topic of a number of other research reports. Zacks Investment Research cut shares of Tilray from a hold rating to a sell rating in a research note on Thursday, July 15th. Alliance Global Partners decreased their target price on shares of Tilray from $17.00 to $15.00 and set a neutral rating on the stock in a research note on Wednesday, August 18th. Piper Sandler decreased their target price on shares of Tilray from $15.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, September 10th. Roth Capital decreased their target price on shares of Tilray from $25.00 to $12.00 and set a neutral rating on the stock in a research note on Thursday, September 16th. Finally, CIBC cut shares of Tilray from an outperform rating to a neutral rating and set a $25.00 target price on the stock. in a research note on Thursday, June 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $17.52.

NASDAQ TLRY opened at $11.23 on Friday. The firm’s fifty day moving average price is $13.73 and its two-hundred day moving average price is $17.15. The stock has a market cap of $5.02 billion, a PE ratio of -6.01 and a beta of 2.61. Tilray has a fifty-two week low of $4.41 and a fifty-two week high of $67.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.56 and a current ratio of 2.20.

In related news, Director Brendan Kennedy sold 300,000 shares of the business’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $14.67, for a total value of $4,401,000.00. Following the transaction, the director now owns 8,950,485 shares in the company, valued at $131,303,614.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.17% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. lifted its holdings in Tilray by 589.3% in the second quarter. Newbridge Financial Services Group Inc. now owns 14,717 shares of the company’s stock valued at $266,000 after buying an additional 12,582 shares during the period. BDO Wealth Advisors LLC lifted its holdings in Tilray by 802.1% in the second quarter. BDO Wealth Advisors LLC now owns 3,383 shares of the company’s stock valued at $61,000 after buying an additional 3,008 shares during the period. Marshall Wace North America L.P. lifted its holdings in Tilray by 70.7% in the second quarter. Marshall Wace North America L.P. now owns 62,053 shares of the company’s stock valued at $1,122,000 after buying an additional 25,703 shares during the period. EP Wealth Advisors LLC lifted its holdings in Tilray by 56.7% in the second quarter. EP Wealth Advisors LLC now owns 17,233 shares of the company’s stock valued at $312,000 after buying an additional 6,233 shares during the period. Finally, Mariner LLC acquired a new position in Tilray in the second quarter valued at $560,000. Institutional investors and hedge funds own 11.34% 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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Analyst Recommendations for Tilray (NASDAQ:TLRY)

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