Tilray shares climbed on Tuesday, following a re-iteration of a rating from Cowen & Co.
Analysts at Cowen & Co. affirmed their outperform rating on the cannabis company. However, they also reduced their price target to $60 a share from $150.
Tilray is facing headwinds in the form of weak industry supply, the company being substantially dependent on third parties - as indicated by analyst Vivien Azer.
Nevertheless, the company is trying to mitigate the challenges by acquisitions (such as the Natura Naturals purchase) and expansions of its current facilities.
Azer suggested that Tilray is well-positioned for multiple entry points into the U.S. , as well as benefit from international markets as it awaits final GMP certifications on its Portuguese license.
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where TLRY advanced for three days, in of 213 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on March 15, 2024. You may want to consider a long position or call options on TLRY as a result. In of 84 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for TLRY just turned positive on March 15, 2024. Looking at past instances where TLRY's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
TLRY moved above its 50-day moving average on March 18, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for TLRY crossed bullishly above the 50-day moving average on March 25, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where TLRY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
TLRY broke above its upper Bollinger Band on March 27, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for TLRY entered a downward trend on March 15, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. TLRY’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.556) is normal, around the industry mean (49.821). P/E Ratio (8.518) is within average values for comparable stocks, (90.516). TLRY's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (2.657). TLRY has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.028). P/S Ratio (2.403) is also within normal values, averaging (66.323).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. TLRY’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 91, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a holding company, whose subsidiaries engages in research, cultivation, processing and distribution of medical cannabis
Industry PharmaceuticalsOther