Tilray, Inc. (TLRY) Stock Sinks As Market Gains: What You Should Know
Tilray, Inc. (TLRY) closed the most recent trading day at $79.24, moving -0.94% from the previous trading session. This move lagged the S&P 500's daily gain of 0.07%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.14%.
Coming into today, shares of the company had lost 0.51% in the past month. In that same time, the Medical sector gained 3.85%, while the S&P 500 gained 6.28%.
Wall Street will be looking for positivity from TLRY as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for TLRY. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. TLRY is currently a Zacks Rank #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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