Tilray (NASDAQ:TLRY) Stock Price Down 0.3%

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price dropped 0.3% during mid-day trading on Friday . The stock traded as low as $1.70 and last traded at $1.72. Approximately 6,436,236 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 29,319,219 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

TLRY has been the subject of several recent research reports. Alliance Global Partners increased their price target on shares of Tilray from $2.25 to $2.75 and gave the stock a "neutral" rating in a research report on Friday, April 5th. Canaccord Genuity Group dropped their price objective on shares of Tilray from $4.25 to $4.00 and set a "buy" rating for the company in a report on Wednesday, April 10th. Finally, CIBC dropped 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, April 10th.

Tilray Trading Up 0.6 %

The stock has a market capitalization of $1.28 billion, a P/E ratio of -3.93 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 business's 50 day simple moving average is $1.96 and its 200-day simple moving average is $1.96.

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP boosted its stake in Tilray by 29.4% in the third quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company's stock valued at $38,673,000 after acquiring an additional 3,681,157 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tilray by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 3,407,269 shares of the company's stock valued at $7,837,000 after acquiring an additional 231,381 shares during the last quarter. BlackRock Inc. boosted its stake in Tilray by 15.8% in the second quarter. BlackRock Inc. now owns 2,692,170 shares of the company's stock valued at $4,200,000 after acquiring an additional 368,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tilray by 2.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,465,698 shares of the company's stock valued at $5,671,000 after acquiring an additional 70,482 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Tilray in the fourth quarter valued at approximately $6,586,000. 9.35% of the stock is 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.