Tilray (NASDAQ:TLRY) Price Target Lowered to $1.00 at Piper Sandler

Tilray (NASDAQ:TLRY) had its target price trimmed by Piper Sandler from $2.00 to $1.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th.

Tilray Stock Performance

Shares of TLRY opened at $0.49 on Wednesday. The firm has a fifty day moving average of $0.73 and a 200-day moving average of $1.17. The company has a market cap of $457.01 million, a price-to-earnings ratio of -1.62 and a beta of 1.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. Tilray has a 1 year low of $0.44 and a 1 year high of $2.52.

Tilray (NASDAQ:TLRY) last posted its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. As a group, equities analysts anticipate that Tilray will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

Several institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its position in shares of Tilray by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after buying an additional 889,086 shares in the last quarter. Quinn Opportunity Partners LLC increased its stake in shares of Tilray by 108.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock valued at $2,152,000 after acquiring an additional 840,000 shares during the period. Virtu Financial LLC acquired a new position in shares of Tilray during the fourth quarter valued at approximately $1,029,000. Dimensional Fund Advisors LP raised its holdings in Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after purchasing an additional 769,569 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Tilray in the third quarter worth approximately $1,348,000. Institutional investors and hedge funds own 9.35% 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 Canada.