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

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

Separately, Canaccord Genuity Group lifted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Tilray Price Performance

TLRY stock opened at $0.49 on Wednesday. The firm has a market cap of $457.01 million, a P/E 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. The stock has a 50-day simple moving average of $0.73 and a 200-day simple moving average of $1.17.

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

Hedge Funds Weigh In On Tilray

A number of institutional investors have recently made changes to their positions in the business. Lido Advisors LLC bought a new stake in shares of Tilray in the fourth quarter worth $28,000. Dudley Capital Management LLC acquired a new position in Tilray during the 4th quarter worth $29,000. Verdence Capital Advisors LLC bought a new stake in shares of Tilray in the 4th quarter worth about $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of Tilray in the 4th quarter valued at about $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its position in shares of Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.