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

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

Separately, Canaccord Genuity Group increased their price target on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research note on Monday, January 13th.

Tilray Stock Down 3.6 %

TLRY traded down $0.02 during trading on Wednesday, reaching $0.49. 22,827,649 shares of the stock were exchanged, compared to its average volume of 29,491,812. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The stock's 50 day moving average price is $0.73 and its two-hundred day moving average price is $1.17. Tilray has a twelve month low of $0.44 and a twelve month high of $2.52. The stock has a market cap of $457.01 million, a P/E ratio of -1.62 and a beta of 1.88.

Tilray (NASDAQ:TLRY - Get Free Report) last issued 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). The firm had revenue of $185.78 million during the quarter, compared to the consensus estimate of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Equities analysts expect that Tilray will post -0.2 EPS for the current year.

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Institutional Trading of Tilray

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in 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 during the period. Bank of Montreal Can grew its stake in shares of Tilray by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after acquiring an additional 312,476 shares in the last quarter. Geode Capital Management LLC increased its position in Tilray by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after acquiring an additional 403,371 shares during the period. Dimensional Fund Advisors LP raised its stake in Tilray by 54.8% in the 4th 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tilray by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after purchasing an additional 286,481 shares during the period. 9.35% of the stock is currently owned by 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 Canada.