Tilray (NASDAQ:TLRY) Shares Down 0.8%

Tilray Inc (NASDAQ:TLRY)’s stock price traded down 0.8% on Tuesday . The company traded as low as $1.64 and last traded at $1.65. 3,592,563 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 27,541,580 shares. The stock had previously closed at $1.66.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. CIBC reduced their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Alliance Global Partners boosted their price target on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Canaccord Genuity Group reduced their price target on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th.

Tilray Stock Up 4.3 %

The company has a current ratio of 1.92, a quick ratio of 1.18 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -3.84 and a beta of 2.25. The firm has a 50-day moving average of $1.85 and a two-hundred day moving average of $1.95.

Hedge Funds Weigh In On Tilray

Several large investors have recently made changes to their positions in TLRY. Kestra Advisory Services LLC lifted its position in shares of Tilray by 58.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 104,554 shares of the company’s stock worth $250,000 after purchasing an additional 38,712 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tilray during the third quarter valued at about $2,023,000. Gotham Asset Management LLC increased its stake in Tilray by 1,038.7% during the third quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company’s stock valued at $2,793,000 after acquiring an additional 1,066,137 shares during the period. Alberta Investment Management Corp increased its stake in Tilray by 18.0% during the third quarter. Alberta Investment Management Corp now owns 632,600 shares of the company’s stock valued at $1,511,000 after acquiring an additional 96,300 shares during the period. Finally, Penserra Capital Management LLC increased its stake in Tilray by 6.9% during the third quarter. Penserra Capital Management LLC now owns 1,168,784 shares of the company’s stock valued at $2,793,000 after acquiring an additional 75,000 shares during the period. Institutional investors and hedge funds 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.