Tilray (NASDAQ:TLRY) Stock Price Down 4.9%

Tilray Inc (NASDAQ:TLRY) shares traded down 4.9% during mid-day trading on Wednesday . The stock traded as low as $1.73 and last traded at $1.74. 11,608,717 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 29,185,414 shares. The stock had previously closed at $1.83.

Analyst Upgrades and Downgrades

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

Tilray Trading Up 0.6 %

The company has a current ratio of 1.92, a quick ratio of 1.18 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $1.96 and its 200-day simple moving average is $1.96.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. lifted its holdings in Tilray by 188.8% during the second quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock valued at $27,000 after purchasing an additional 5,583 shares in the last quarter. Cetera Advisor Networks LLC acquired a new stake in Tilray during the first quarter worth about $82,000. Clear Street Markets LLC acquired a new stake in Tilray during the third quarter worth about $25,000. Kingsview Wealth Management LLC acquired a new stake in Tilray during the second quarter worth about $33,000. Finally, Squarepoint Ops LLC acquired a new stake in Tilray during the fourth quarter worth about $30,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Company Profile

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.