Tilray (NASDAQ:TLRY) Trading Down 0.9%

Tilray Inc (NASDAQ:TLRY)’s share price was down 0.9% during mid-day trading on Friday . The stock traded as low as $1.66 and last traded at $1.68. Approximately 2,532,344 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 27,816,049 shares. The stock had previously closed at $1.69.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TLRY shares. CIBC decreased their price target on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th. Canaccord Genuity Group cut their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Finally, Alliance Global Partners increased their price objective on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research report on Friday, April 5th.

Tilray Stock Down 0.7 %

The company’s 50-day moving average is $1.86 and its 200 day moving average is $1.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.18 and a current ratio of 1.92. The company has a market capitalization of $1.30 billion, a PE ratio of -3.81 and a beta of 2.25.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its stake in Tilray by 56.7% during the 4th quarter. SG Americas Securities LLC now owns 415,413 shares of the company’s stock worth $955,000 after acquiring an additional 150,247 shares during the period. Gotham Asset Management LLC raised its stake in Tilray by 1,038.7% during the 3rd quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company’s stock worth $2,793,000 after acquiring an additional 1,066,137 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Tilray during the 3rd quarter worth approximately $2,023,000. Public Sector Pension Investment Board raised its stake in Tilray by 11.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock worth $3,630,000 after acquiring an additional 155,672 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new stake in Tilray during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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 Nanaimo, Canada.