Tilray (NASDAQ:TLRY) Stock Price Down 0.9%

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 0.9% during trading on Friday . The company traded as low as $1.66 and last traded at $1.68. Approximately 2,532,344 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 27,816,049 shares. The stock had previously closed at $1.69.

Analyst Ratings Changes

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

Tilray Stock Down 1.8 %

The company’s fifty day simple moving average is $1.86 and its 200-day simple moving average is $1.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18. The firm has a market capitalization of $1.28 billion, a PE ratio of -3.77 and a beta of 2.25.

Institutional Investors Weigh In On Tilray

A number of large investors have recently made changes to their positions in TLRY. Gainplan LLC purchased a new stake in shares of Tilray during the fourth quarter valued at $28,000. Simplicity Wealth LLC purchased a new stake in shares of Tilray during the first quarter valued at $28,000. RPO LLC purchased a new stake in shares of Tilray during the fourth quarter valued at $28,000. Wellington Wealth Strategies LLC. purchased a new stake in shares of Tilray during the fourth quarter valued at $29,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Tilray by 179.0% during the fourth quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock valued at $34,000 after buying an additional 9,453 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other 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.