Tilray (NASDAQ:TLRY) Trading Down 0.5%

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. CIBC lowered their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday. Alliance Global Partners lifted their price target on Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Canaccord Genuity Group lowered their price target on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a report on Wednesday.

Tilray Trading Down 4.2 %

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 fifty day moving average price of $1.97 and a 200-day moving average price of $1.97. The company has a current ratio of 1.92, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11.

Institutional Trading of Tilray

Institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. grew its position in Tilray by 188.8% in the second quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock worth $27,000 after acquiring an additional 5,583 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in Tilray in the first quarter worth approximately $82,000. Clear Street Markets LLC bought a new stake in Tilray in the third quarter worth approximately $25,000. Kingsview Wealth Management LLC bought a new stake in Tilray in the second quarter worth approximately $33,000. Finally, Squarepoint Ops LLC bought a new stake in Tilray in the fourth quarter worth approximately $30,000. 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.