Tilray (NASDAQ:TLRY) Trading Down 1.7%

Shares of Tilray Inc (NASDAQ:TLRYGet Free Report) traded down 1.7% during trading on Wednesday . The company traded as low as $2.03 and last traded at $2.06. 9,119,424 shares were traded during trading, a decline of 70% from the average session volume of 30,640,055 shares. The stock had previously closed at $2.09.

Analysts Set New Price Targets

A number of analysts have commented on the stock. CIBC reduced their target price on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Canaccord Genuity Group reduced their price objective 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. Finally, Alliance Global Partners increased their price objective on shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research note on Friday, April 5th.

Read Our Latest Research Report on TLRY

Tilray Trading Down 1.0 %

The stock’s 50 day moving average price is $2.02 and its 200-day moving average price is $1.95. The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.60 billion, a PE ratio of -4.70 and a beta of 2.36.

Hedge Funds Weigh In On Tilray

Several institutional investors have recently bought and sold shares of TLRY. Hudson Bay Capital Management LP grew its stake in Tilray by 29.4% during the third quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company’s stock valued at $38,673,000 after acquiring an additional 3,681,157 shares in the last quarter. Gotham Asset Management LLC grew its stake in Tilray by 1,038.7% during the third quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company’s stock valued at $2,793,000 after acquiring an additional 1,066,137 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Tilray during the third quarter valued at $2,023,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Tilray by 8.7% during 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 acquiring an additional 213,834 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Tilray by 482.8% during the fourth quarter. Mackenzie Financial Corp now owns 206,659 shares of the company’s stock valued at $477,000 after acquiring an additional 171,200 shares in the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray

(Get Free Report)

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.

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