Tilray (NASDAQ:TLRY) Shares Down 4.1%

Tilray Inc (NASDAQ:TLRY) shares were down 4.1% during trading on Thursday . The stock traded as low as $1.75 and last traded at $1.77. Approximately 6,649,915 shares were traded during trading, a decline of 77% from the average daily volume of 28,947,635 shares. The stock had previously closed at $1.84.

Analysts Set New Price Targets

Several research analysts have commented on TLRY shares. Canaccord Genuity Group reduced 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. CIBC reduced 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, Alliance Global Partners raised 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.

Tilray Trading Up 1.7 %

The stock has a fifty day moving average price of $1.95 and a 200-day moving average price of $1.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marathon Trading Investment Management LLC grew its stake 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 grew its stake in Tilray by 3.3% during the 3rd quarter. Signaturefd LLC now owns 202,408 shares of the company’s stock worth $484,000 after buying an additional 6,452 shares during the last quarter. Vontobel Holding Ltd. grew its stake in 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 buying an additional 7,362 shares during the last quarter. International Assets Investment Management LLC grew its stake in 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 buying an additional 9,453 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Tilray by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 76,506 shares of the company’s stock worth $183,000 after buying an additional 9,790 shares during the last quarter. 9.35% of the stock is currently owned by hedge funds and other 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.