Tilray (NASDAQ:TLRY) Stock Price Down 0.5%

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares were down 0.5% during trading on Friday . The company traded as low as $1.85 and last traded at $1.89. Approximately 10,927,592 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 28,951,094 shares. The stock had previously closed at $1.90.

Wall Street Analyst Weigh In

TLRY has been the subject of a number of research reports. CIBC cut their target price on shares of Tilray from $2.25 to $2.00 and set a "neutral" rating for the company in a research note on Wednesday. Canaccord Genuity Group cut their target price on shares of Tilray from $4.25 to $4.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, 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 research note on Friday, April 5th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.71.

Tilray Stock Performance

The stock's 50-day moving average is $1.97 and its 200-day moving average is $1.98. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -4.14 and a beta of 2.36. The company has a current ratio of 1.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in Tilray by 56.7% in the 4th quarter. SG Americas Securities LLC now owns 415,413 shares of the company's stock valued at $955,000 after acquiring an additional 150,247 shares during the period. Gotham Asset Management LLC lifted its stake in shares of Tilray by 1,038.7% in the third quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company's stock valued at $2,793,000 after buying an additional 1,066,137 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tilray in the third quarter valued at $2,023,000. Public Sector Pension Investment Board lifted its stake in shares of Tilray by 11.4% in the third quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company's stock valued at $3,630,000 after buying an additional 155,672 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. bought a new position in shares of Tilray in the fourth quarter valued at $38,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.