Tilray (NASDAQ:TLRY) Shares Down 2%

Tilray Inc (NASDAQ:TLRY)’s stock price was down 2% during trading on Wednesday . The stock traded as low as $1.94 and last traded at $1.94. Approximately 7,530,842 shares changed hands during trading, a decline of 76% from the average daily volume of 30,849,773 shares. The stock had previously closed at $1.98.

Analysts Set New Price Targets

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

Tilray Trading Down 1.5 %

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 business has a 50 day moving average of $1.99 and a 200-day moving average of $1.94. The stock has a market cap of $1.51 billion, a PE ratio of -4.41 and a beta of 2.36.

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hudson Bay Capital Management LP raised its stake in Tilray by 29.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company’s stock valued at $38,673,000 after purchasing an additional 3,681,157 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Tilray by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock valued at $6,699,000 after buying an additional 213,834 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Tilray by 11.4% during the third quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock valued at $3,630,000 after buying an additional 155,672 shares during the period. Swiss National Bank grew its stake in Tilray by 3.6% in the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock worth $3,683,000 after acquiring an additional 51,700 shares during the period. Finally, TD Asset Management Inc grew its stake in Tilray by 3.2% in the 4th quarter. TD Asset Management Inc now owns 1,242,538 shares of the company’s stock worth $2,883,000 after acquiring an additional 38,104 shares during the period. 9.35% of the stock is currently 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.