Canaccord Genuity Group Lowers Tilray (NASDAQ:TLRY) Price Target to $4.00

Tilray (NASDAQ:TLRY - Free Report) had its price target decreased by Canaccord Genuity Group from $4.25 to $4.00 in a report published on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

TLRY has been the subject of several other reports. CIBC cut their price objective on shares of Tilray from $2.25 to $2.00 and set a neutral rating for the company in a report on Wednesday. Alliance Global Partners raised their price objective on shares of Tilray from $2.25 to $2.75 and gave the stock a neutral rating in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $3.04.

Tilray Stock Performance

TLRY traded down $0.04 on Wednesday, hitting $2.02. The company's stock had a trading volume of 34,784,016 shares, compared to its average volume of 29,030,254. The company's 50 day simple moving average is $1.97 and its 200-day simple moving average is $1.98. The firm has a market cap of $1.50 billion, a P/E ratio of -0.91 and a beta of 2.36. Tilray has a 12 month low of $1.50 and a 12 month high of $3.40. The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.11.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton acquired 20,000 shares of the company's stock in a transaction dated Friday, January 12th. The stock was bought at an average cost of $1.87 per share, with a total value of $37,400.00. Following the acquisition, the chief financial officer now owns 20,000 shares of the company's stock, valued at approximately $37,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tilray news, CFO Carl A. Merton bought 20,000 shares of the firm's stock in a transaction that occurred on Friday, January 12th. The shares were bought at an average price of $1.87 per share, for a total transaction of $37,400.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at $37,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Irwin D. Simon bought 53,700 shares of the firm's stock in a transaction that occurred on Friday, January 12th. The stock was acquired at an average price of $1.88 per share, for a total transaction of $100,956.00. Following the transaction, the chief executive officer now owns 2,033,058 shares in the company, valued at $3,822,149.04. The disclosure for this purchase can be found here. Insiders bought a total of 96,300 shares of company stock valued at $183,210 in the last three months. Company insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Tilray

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Tilray by 63.2% in the first quarter. JPMorgan Chase & Co. now owns 266,929 shares of the company's stock valued at $2,073,000 after acquiring an additional 103,379 shares during the period. Raymond James & Associates increased its position in shares of Tilray by 7.4% in the first quarter. Raymond James & Associates now owns 103,410 shares of the company's stock valued at $803,000 after acquiring an additional 7,135 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Tilray by 77.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 148,682 shares of the company's stock valued at $1,155,000 after acquiring an additional 65,079 shares during the period. Cetera Advisor Networks LLC purchased a new position in shares of Tilray in the first quarter valued at about $82,000. Finally, Private Advisor Group LLC increased its position in shares of Tilray by 25.6% in the first quarter. Private Advisor Group LLC now owns 51,937 shares of the company's stock valued at $404,000 after acquiring an additional 10,587 shares during the period. 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.