Tilray (NASDAQ:TLRY) Stock Price Down 21.2%

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price traded down 21.2% during trading on Tuesday . The company traded as low as $2.00 and last traded at $2.04. 50,370,426 shares traded hands during trading, an increase of 78% from the average session volume of 28,368,664 shares. The stock had previously closed at $2.59.

Analysts Set New Price Targets

Separately, Alliance Global Partners raised 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.

Tilray Stock Down 20.7 %

The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.11. The company's fifty day moving average is $1.97 and its 200-day moving average is $1.98. The company has a market cap of $1.53 billion, a PE ratio of -0.93 and a beta of 2.36.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton purchased 20,000 shares of the firm's stock in a transaction on Friday, January 12th. The shares were acquired at an average cost of $1.87 per share, for a total transaction of $37,400.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares of the company's stock, valued at $37,400. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tilray news, CFO Carl A. Merton purchased 20,000 shares of the firm's stock in a transaction on Friday, January 12th. The shares were acquired at an average cost of $1.87 per share, for a total transaction of $37,400.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares of the company's stock, valued at $37,400. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Irwin D. Simon purchased 53,700 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 2,033,058 shares of the company's stock, valued at approximately $3,822,149.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 96,300 shares of company stock worth $183,210. Company insiders own 0.68% of the company's stock.

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently modified their holdings of TLRY. Clear Street Markets LLC bought a new stake in shares of Tilray during the 3rd quarter valued at $25,000. Macquarie Group Ltd. raised its position in shares of Tilray by 188.8% during the 2nd quarter. Macquarie Group Ltd. now owns 8,540 shares of the company's stock valued at $27,000 after purchasing an additional 5,583 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Tilray during the 4th quarter valued at $27,000. Lake Street Financial LLC bought a new stake in shares of Tilray during the 3rd quarter valued at $28,000. Finally, Gainplan LLC bought a new stake in shares of Tilray during the 4th quarter valued at $28,000. 9.35% of the stock is currently owned by institutional investors.

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.