Tilray Inc (NASDAQ:TLRY – Get Free Report) traded down 2.4% during mid-day trading on Wednesday . The company traded as low as $1.78 and last traded at $1.80. 6,742,499 shares were traded during trading, a decline of 77% from the average session volume of 29,092,012 shares. The stock had previously closed at $1.84.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. CIBC lowered their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Canaccord Genuity Group lowered their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, Alliance Global Partners increased their price objective on shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research note on Friday, April 5th.
Read Our Latest Report on TLRY
Tilray Stock Up 1.1 %
Hedge Funds Weigh In On Tilray
Large investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP raised its holdings in shares of Tilray by 29.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company’s stock worth $38,673,000 after acquiring an additional 3,681,157 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tilray by 2.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,465,698 shares of the company’s stock worth $5,671,000 after buying an additional 70,482 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in Tilray by 11.4% during the third quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock worth $3,630,000 after purchasing an additional 155,672 shares during the last quarter. Swiss National Bank lifted its stake in Tilray by 1.7% during the third quarter. Swiss National Bank now owns 1,456,738 shares of the company’s stock worth $3,482,000 after purchasing an additional 24,800 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Tilray by 3.2% during the fourth quarter. TD Asset Management Inc now owns 1,242,538 shares of the company’s stock worth $2,883,000 after purchasing an additional 38,104 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.
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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