Tilray (NASDAQ:TLRY) Trading Down 4.1%

Tilray Inc (NASDAQ:TLRY) dropped 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 mid-day 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 brokerages recently commented on TLRY. Alliance Global Partners lifted 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. CIBC reduced their price target on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group lowered their target price on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th.

Tilray Stock Performance

The stock has a market cap of $1.35 billion, a P/E ratio of -4.01 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 company has a fifty day moving average price of $1.95 and a 200 day moving average price of $1.95.

Institutional Investors Weigh In On Tilray

Large investors have recently added to or reduced their stakes in the business. Gainplan LLC raised its position in Tilray by 856.7% during the 1st quarter. Gainplan LLC now owns 117,872 shares of the company’s stock valued at $291,000 after purchasing an additional 105,551 shares during the last quarter. Simplicity Wealth LLC bought a new position in shares of Tilray during the first quarter valued at $28,000. McAdam LLC lifted its stake in shares of Tilray by 66.1% in the first quarter. McAdam LLC now owns 48,261 shares of the company’s stock worth $119,000 after buying an additional 19,207 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Tilray in the 1st quarter worth $319,000. Finally, Madrona Financial Services LLC purchased a new position in Tilray in the 1st quarter worth about $124,000. 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.