Tilray (TLRY) Stock Price Down 10.9%

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Tilray Inc (NASDAQ:TLRY)’s share price fell 10.9% during mid-day trading on Thursday . The stock traded as low as $76.35 and last traded at $80.10. 13,427,473 shares changed hands during trading, an increase of 120% from the average session volume of 6,115,852 shares. The stock had previously closed at $89.86.

Several brokerages recently issued reports on TLRY. Cowen began coverage on shares of Tilray in a report on Monday, August 13th. They set an “outperform” rating and a $34.00 price target for the company. Northland Securities downgraded shares of Tilray from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Roth Capital downgraded shares of Tilray from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 29th. They noted that the move was a valuation call.

Tilray (NASDAQ:TLRY) last announced its earnings results on Tuesday, August 28th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.08). The business had revenue of $9.70 million for the quarter, compared to the consensus estimate of $9.01 million. The firm’s quarterly revenue was up 94.0% compared to the same quarter last year. equities analysts predict that Tilray Inc will post -0.45 EPS for the current year.

In related news, CRO Edward Wood Pastorius, Jr. bought 14,705 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was bought at an average cost of $17.00 per share, with a total value of $249,985.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brendan Kennedy bought 14,706 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was bought at an average cost of $17.00 per share, with a total value of $250,002.00. The disclosure for this purchase can be found here.

Tilray Company Profile (NASDAQ:TLRY)

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 was incorporated in 2018 and is headquartered in Nanaimo, Canada.

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