Tilray (NASDAQ:TLRY) Shares Gap Down to $2.12

Tilray Inc (NASDAQ:TLRY)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $2.12, but opened at $2.06. Tilray shares last traded at $2.01, with a volume of 22,821,840 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. CIBC decreased their price target on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Canaccord Genuity Group lowered their target price on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, Alliance Global Partners boosted their price target on Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research note on Friday, April 5th.

Tilray Stock Down 6.6 %

The company has a market cap of $1.53 billion, a price-to-earnings ratio of -4.50 and a beta of 2.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.18 and a current ratio of 1.92. The stock’s fifty day moving average is $2.04 and its two-hundred day moving average is $1.95.

Institutional Investors Weigh In On Tilray

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC grew its holdings in Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after buying an additional 10,648,403 shares in the last quarter. California State Teachers Retirement System grew its stake in Tilray by 4.4% during the first quarter. California State Teachers Retirement System now owns 678,990 shares of the company’s stock valued at $1,677,000 after acquiring an additional 28,586 shares in the last quarter. Bayesian Capital Management LP increased its holdings in Tilray by 193.0% during the 1st quarter. Bayesian Capital Management LP now owns 54,800 shares of the company’s stock worth $135,000 after acquiring an additional 36,100 shares during the period. Lazard Asset Management LLC purchased a new stake in Tilray in the 1st quarter worth approximately $118,000. Finally, CreativeOne Wealth LLC bought a new position in Tilray in the 1st quarter valued at $165,000. 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.