Tilray (NASDAQ:TLRY) Shares Down 4.1%

Tilray Inc (NASDAQ:TLRY) dropped 4.1% on Thursday . The company traded as low as $1.75 and last traded at $1.77. Approximately 6,649,915 shares traded hands during trading, a decline of 77% from the average daily volume of 28,947,635 shares. The stock had previously closed at $1.84.

Analyst Ratings Changes

TLRY has been the topic of a number of recent research reports. CIBC lowered their target price on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Alliance Global Partners increased their target price on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Canaccord Genuity Group lowered their target price on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th.

Tilray Stock Performance

The stock has a fifty day simple moving average of $1.95 and a two-hundred day simple moving average of $1.94. The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Tilray

A number of large investors have recently modified their holdings of TLRY. Clear Street Markets LLC acquired a new stake in shares of Tilray in the 3rd quarter valued at $25,000. Lake Street Financial LLC acquired a new stake in shares of Tilray in the 3rd quarter valued at $28,000. Gainplan LLC acquired a new stake in shares of Tilray during the 4th quarter valued at $28,000. Simplicity Wealth LLC acquired a new stake in shares of Tilray during the 1st quarter valued at $28,000. Finally, RPO LLC acquired a new stake in shares of Tilray during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.