Jefferies Financial Group initiated coverage on shares of Tilray (NASDAQ:TLRY) in a research report report published on Friday morning, MarketBeat.com reports. The firm issued an underperform rating and a $61.00 target price on the stock.
“We initiate at Underperform, PT $61. With arguably inferior positioning in parts of its business vs. certain peers (questionable Canada rec approach, less impressive US optionality, too much value credited to ABI/ABG), we struggle to justify the current valuation. We appreciate it is well placed in medical but future value here will be driven by IP for which little visibility near term. Its share structure also raises risk of increased volatility.”,” the firm’s analyst commented.
TLRY has been the subject of several other research reports. Zacks Investment Research downgraded shares of Tilray from a hold rating to a sell rating in a research report on Thursday, December 20th. Seaport Global Securities assumed coverage on shares of Tilray in a research report on Thursday, February 21st. They set a neutral rating and a $81.10 price target for the company. Piper Jaffray Companies assumed coverage on shares of Tilray in a research report on Wednesday, January 9th. They set an overweight rating and a $90.00 price target for the company. Finally, Roth Capital raised shares of Tilray from a neutral rating to a buy rating in a research report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Tilray has a consensus rating of Hold and a consensus price target of $106.52.
TLRY stock opened at $70.00 on Friday. The company has a current ratio of 5.43, a quick ratio of 4.98 and a debt-to-equity ratio of 0.05. Tilray has a 52-week low of $20.10 and a 52-week high of $300.00.
In other Tilray news, CRO Edward Wood Pastorius, Jr. sold 29,422 shares of Tilray stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $72.57, for a total value of $2,135,154.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brendan Kennedy sold 149,916 shares of Tilray stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $74.21, for a total transaction of $11,125,266.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,916 shares of company stock valued at $14,787,514.
Several institutional investors have recently modified their holdings of TLRY. Toronto Dominion Bank purchased a new position in shares of Tilray during the 4th quarter worth $27,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Tilray during the 4th quarter worth $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 acquiring an additional 1,090 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Tilray during the 3rd quarter worth $103,000. Finally, 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 acquiring an additional 655 shares during the last quarter. Institutional investors and hedge funds own 7.67% of the company’s stock.
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.
Featured Story: How does inflation affect different investments?
Receive News & Ratings for Tilray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tilray and related companies with MarketBeat.com's FREE daily email newsletter.