Tilray (TLRY) Downgraded to Sell at Zacks Investment Research

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Tilray (NASDAQ:TLRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Tilray, Inc. is a pharmaceutical company. It develops cannabis based medicines, drugs, drops and oil products. Tilray, Inc. is based in NANAIMO, Canada. “

Several other research analysts have also issued reports on TLRY. Jefferies Financial Group set a $61.00 target price on shares of Tilray and gave the stock a “sell” rating in a research report on Tuesday, March 19th. Roth Capital reaffirmed a “hold” rating on shares of Tilray in a research note on Thursday, March 21st. Seaport Global Securities began coverage on shares of Tilray in a research note on Thursday, February 21st. They set a “neutral” rating and a $81.10 target price for the company. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Tilray in a research note on Tuesday, April 2nd. Finally, Vertical Group began coverage on shares of Tilray in a research note on Friday, April 12th. They set a “sell” rating for the company. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $106.52.

NASDAQ:TLRY traded down $0.34 during midday trading on Thursday, hitting $50.96. The company had a trading volume of 21,484 shares, compared to its average volume of 1,547,419. Tilray has a 52-week low of $20.10 and a 52-week high of $300.00. The firm has a market capitalization of $4.97 billion and a PE ratio of -62.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 20.75 and a current ratio of 21.37.

Tilray (NASDAQ:TLRY) last announced its earnings results on Monday, March 18th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.19). Tilray had a negative return on equity of 58.43% and a negative net margin of 157.05%. The company had revenue of $15.50 million during the quarter, compared to analysts’ expectations of $12.85 million. The company’s revenue was up 203.9% compared to the same quarter last year. On average, sell-side analysts forecast that Tilray will post -1.04 EPS for the current fiscal year.

In other news, CRO Edward Wood Pastorius, Jr. sold 3,443 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $61.04, for a total transaction of $210,160.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Castaneda sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $70.43, for a total transaction of $2,112,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,531 shares of company stock worth $14,657,753.

Several large investors have recently bought and sold shares of TLRY. Toronto Dominion Bank bought a new stake in shares of Tilray in the 4th quarter worth about $27,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Tilray during the 4th quarter worth about $71,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Tilray by 7,266.7% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,105 shares of the company’s stock worth $78,000 after purchasing an additional 1,090 shares during the period. IFP Advisors Inc boosted its stake in shares of Tilray by 61.0% during the 4th quarter. IFP Advisors Inc now owns 1,729 shares of the company’s stock worth $130,000 after purchasing an additional 655 shares during the period. Finally, G&S Capital LLC boosted its stake in shares of Tilray by 76.9% during the 1st quarter. G&S Capital LLC now owns 1,910 shares of the company’s stock worth $125,000 after purchasing an additional 830 shares during the period. Hedge funds and other institutional investors own 7.91% 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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