Tilray (NASDAQ:TLRY) Stock Price Down 4%

Tilray Inc (NASDAQ:TLRY) shares were down 4% during mid-day trading on Friday . The stock traded as low as $1.66 and last traded at $1.66. Approximately 3,753,590 shares traded hands during trading, a decline of 86% from the average daily volume of 27,195,645 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TLRY shares. Alliance Global Partners upped their price objective on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a report on Friday, April 5th. CIBC decreased their price objective on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Finally, Canaccord Genuity Group decreased their price objective on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th.

Tilray Stock Down 4.0 %

The company has a fifty day moving average of $1.85 and a two-hundred day moving average of $1.95. The company has a market cap of $1.28 billion, a PE ratio of -3.77 and a beta of 2.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.18 and a current ratio of 1.92.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Simplicity Wealth LLC bought a new position in Tilray in the 1st quarter valued at $28,000. RPO LLC bought a new position in Tilray in the 4th quarter valued at $28,000. Gainplan LLC bought a new position in Tilray in the 4th quarter valued at $28,000. Wellington Wealth Strategies LLC. bought a new position in Tilray in the 4th quarter valued at $29,000. Finally, International Assets Investment Management LLC grew its position in Tilray by 179.0% in the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock valued at $34,000 after acquiring an additional 9,453 shares during the last quarter. Hedge funds and other 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.