Hellman Jordan Management Co. Inc. MA reduced its stake in shares of Tilray Inc (NASDAQ:TLRY) by 40.0% during the second quarter, Holdings Channel reports. The firm owned 30,000 shares of the company’s stock after selling 20,000 shares during the quarter. Tilray makes up approximately 1.9% of Hellman Jordan Management Co. Inc. MA’s portfolio, making the stock its 12th biggest position. Hellman Jordan Management Co. Inc. MA’s holdings in Tilray were worth $1,397,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in Tilray during the 2nd quarter valued at $46,000. Certified Advisory Corp increased its position in Tilray by 152.1% during the 2nd quarter. Certified Advisory Corp now owns 1,041 shares of the company’s stock valued at $48,000 after purchasing an additional 628 shares during the period. Synovus Financial Corp increased its position in Tilray by 2,500.0% during the 1st quarter. Synovus Financial Corp now owns 1,040 shares of the company’s stock valued at $69,000 after purchasing an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Tilray during the 2nd quarter valued at $70,000. Finally, Advisory Services Network LLC increased its position in Tilray by 4,164.9% during the 2nd quarter. Advisory Services Network LLC now owns 1,578 shares of the company’s stock valued at $73,000 after purchasing an additional 1,541 shares during the period. 7.63% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on TLRY shares. Oppenheimer started coverage on shares of Tilray in a research report on Tuesday, June 4th. They issued a “market perform” rating on the stock. Jefferies Financial Group set a $57.00 target price on shares of Tilray and gave the stock a “hold” rating in a research report on Friday, August 30th. Compass Point reduced their target price on shares of Tilray from $41.00 to $38.00 and set a “sell” rating on the stock in a research report on Monday, June 17th. Cowen set a $60.00 target price on shares of Tilray and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Northland Securities reaffirmed a “hold” rating on shares of Tilray in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Tilray currently has an average rating of “Hold” and an average price target of $55.14.
Shares of NASDAQ:TLRY traded down $1.02 during midday trading on Monday, reaching $24.92. The company’s stock had a trading volume of 445,253 shares, compared to its average volume of 1,866,900. The firm has a 50 day moving average of $31.33 and a 200-day moving average of $45.20. The firm has a market capitalization of $2.53 billion, a P/E ratio of -30.39 and a beta of 4.52. The company has a quick ratio of 1.61, a current ratio of 2.04 and a debt-to-equity ratio of 1.21. Tilray Inc has a 12-month low of $25.15 and a 12-month high of $178.85.
Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.09). The firm had revenue of $45.90 million during the quarter, compared to the consensus estimate of $40.25 million. Tilray had a negative return on equity of 37.64% and a negative net margin of 121.73%. The business’s revenue for the quarter was up 373.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) EPS. On average, research analysts predict that Tilray Inc will post -1.17 EPS for the current year.
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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