Tilray (NASDAQ:TLRY) Stock Price Down 3.2%

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 3.2% on Monday . The stock traded as low as $1.67 and last traded at $1.68. Approximately 9,461,924 shares changed hands during trading, a decline of 68% from the average daily volume of 29,250,340 shares. The stock had previously closed at $1.73.

Analyst Ratings Changes

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

Tilray Stock Performance

The stock has a 50 day simple moving average of $1.95 and a 200 day simple moving average of $1.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.18 and a current ratio of 1.92.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently modified their holdings of the business. Clear Street Markets LLC bought a new position in shares of Tilray in the 3rd quarter valued at $25,000. Lake Street Financial LLC acquired a new stake in shares of Tilray during the 3rd quarter valued at $28,000. Gainplan LLC acquired a new stake in shares of Tilray during the 4th quarter valued at $28,000. RPO LLC acquired a new stake in shares of Tilray during the 4th quarter valued at $28,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of Tilray during the 3rd quarter valued at $29,000. 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.