Tilray (NASDAQ:TLRY) Trading Down 2.4%

Tilray Inc (NASDAQ:TLRY)’s stock price fell 2.4% during trading on Wednesday . The stock traded as low as $1.78 and last traded at $1.80. 6,742,499 shares changed hands during trading, a decline of 77% from the average session volume of 29,092,012 shares. The stock had previously closed at $1.84.

Analysts Set New Price Targets

Several research firms have recently commented on TLRY. Alliance Global Partners boosted their price target on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a report on Friday, April 5th. Canaccord Genuity Group reduced their target price on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Finally, 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 report on Wednesday, April 10th.

Tilray Stock Performance

The firm has a 50-day moving average price of $1.95 and a two-hundred day moving average price of $1.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18. The firm has a market capitalization of $1.42 billion, a P/E ratio of -4.08 and a beta of 2.36.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clear Street Markets LLC purchased a new stake in Tilray during the third quarter worth $25,000. Lake Street Financial LLC bought a new stake in shares of Tilray during the 3rd quarter worth $28,000. Gainplan LLC acquired a new stake in shares of Tilray in the fourth quarter worth $28,000. Simplicity Wealth LLC bought a new position in Tilray during the first quarter valued at about $28,000. Finally, RPO LLC acquired a new stake in Tilray during the fourth quarter worth about $28,000. 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.