Tilray (NASDAQ:TLRY) Shares Down 0.3%

Tilray Inc (NASDAQ:TLRY) fell 0.3% during mid-day trading on Friday . The stock traded as low as $1.70 and last traded at $1.72. 6,436,236 shares were traded during trading, a decline of 78% from the average session volume of 29,319,219 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

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

Tilray Stock Performance

The company has a fifty day moving average of $1.96 and a two-hundred day moving average of $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 cap of $1.29 billion, a price-to-earnings ratio of -3.90 and a beta of 2.36.

Institutional Trading of Tilray

Hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Tilray by 10.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 28,072 shares of the company’s stock worth $77,000 after purchasing an additional 2,550 shares during the period. Rhumbline Advisers lifted its holdings in Tilray by 20.4% during the 2nd quarter. Rhumbline Advisers now owns 15,464 shares of the company’s stock worth $48,000 after buying an additional 2,623 shares during the period. CreativeOne Wealth LLC grew its position in shares of Tilray by 8.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 40,591 shares of the company’s stock valued at $112,000 after buying an additional 2,994 shares during the last quarter. State of Wyoming increased its stake in shares of Tilray by 17.0% in the fourth quarter. State of Wyoming now owns 24,561 shares of the company’s stock valued at $66,000 after buying an additional 3,564 shares during the period. Finally, Mariner LLC raised its position in shares of Tilray by 11.1% during the fourth quarter. Mariner LLC now owns 49,469 shares of the company’s stock worth $133,000 after acquiring an additional 4,945 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.