Shares of Tilray Inc (NASDAQ:TLRY – Get Free Report) fell 2.4% on Wednesday . The company traded as low as $1.78 and last traded at $1.80. 6,742,499 shares were traded 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
A number of research firms have weighed in on TLRY. Canaccord Genuity Group reduced their target price on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Alliance Global Partners upped their target price on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, CIBC reduced their target price on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th.
Read Our Latest Research Report on TLRY
Tilray Trading Up 1.1 %
Hedge Funds Weigh In On Tilray
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP lifted its position 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 acquiring an additional 3,681,157 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tilray by 2.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,465,698 shares of the company’s stock valued at $5,671,000 after acquiring an additional 70,482 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Tilray by 11.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock valued at $3,630,000 after acquiring an additional 155,672 shares in the last quarter. Swiss National Bank lifted its position in Tilray by 1.7% in the 3rd quarter. Swiss National Bank now owns 1,456,738 shares of the company’s stock valued at $3,482,000 after acquiring an additional 24,800 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in Tilray by 3.2% in the 4th quarter. TD Asset Management Inc now owns 1,242,538 shares of the company’s stock valued at $2,883,000 after acquiring an additional 38,104 shares in the last quarter. 9.35% of the stock is owned by institutional investors.
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.
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