Tilray Inc (NASDAQ:TLRY – Get Free Report)’s stock price was down 4% during trading on Friday . The company traded as low as $1.66 and last traded at $1.66. Approximately 3,753,590 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 27,195,645 shares. The stock had previously closed at $1.73.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on TLRY shares. Canaccord Genuity Group dropped their target price 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. CIBC dropped their price target 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. Finally, Alliance Global Partners upped their target price on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research note on Friday, April 5th.
View Our Latest Stock Analysis on TLRY
Tilray Trading Down 4.0 %
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC grew its position in Tilray by 209.5% in the 1st quarter. Cetera Advisors LLC now owns 115,665 shares of the company’s stock valued at $286,000 after purchasing an additional 78,292 shares during the period. Virtu Financial LLC bought a new stake in Tilray in the 1st quarter valued at about $586,000. Tidal Investments LLC raised its stake in Tilray by 36,687.0% in the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after acquiring an additional 10,648,403 shares during the period. California State Teachers Retirement System raised its stake in Tilray by 4.4% in the 1st quarter. California State Teachers Retirement System now owns 678,990 shares of the company’s stock valued at $1,677,000 after acquiring an additional 28,586 shares during the period. Finally, Bayesian Capital Management LP raised its stake in Tilray by 193.0% in the 1st quarter. Bayesian Capital Management LP now owns 54,800 shares of the company’s stock valued at $135,000 after acquiring an additional 36,100 shares during the period. Institutional investors own 9.35% of the company’s stock.
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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