Tilray (NASDAQ:TLRY) Shares Down 3%

Shares of Tilray Inc (NASDAQ:TLRY) traded down 3% on Monday . The company traded as low as $1.91 and last traded at $1.92. 11,588,904 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 31,113,834 shares. The stock had previously closed at $1.98.

Wall Street Analyst Weigh In

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

Tilray Price Performance

The company has a market cap of $1.44 billion, a PE ratio of -4.32 and a beta of 2.36. 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 stock’s 50-day moving average is $2.05 and its 200 day moving average is $1.96.

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TLRY. Marathon Trading Investment Management LLC raised its position in Tilray by 24.7% during the 3rd quarter. Marathon Trading Investment Management LLC now owns 29,302 shares of the company’s stock worth $70,000 after buying an additional 5,802 shares during the last quarter. Signaturefd LLC boosted its position in Tilray by 3.3% in the 3rd quarter. Signaturefd LLC now owns 202,408 shares of the company’s stock worth $484,000 after purchasing an additional 6,452 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Tilray by 2.7% during the 4th quarter. Vontobel Holding Ltd. now owns 278,199 shares of the company’s stock worth $640,000 after purchasing an additional 7,362 shares during the period. International Assets Investment Management LLC grew its stake in shares of Tilray by 179.0% during the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock worth $34,000 after purchasing an additional 9,453 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Tilray by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 76,506 shares of the company’s stock valued at $183,000 after purchasing an additional 9,790 shares in the last quarter. Hedge funds and other institutional investors 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.