Tilray (NASDAQ:TLRY) Trading Down 4.9%

Shares of Tilray Inc (NASDAQ:TLRY) were down 4.9% during trading on Wednesday . The company traded as low as $1.73 and last traded at $1.74. Approximately 11,608,717 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 29,185,414 shares. The stock had previously closed at $1.83.

Analysts Set New Price Targets

Several research analysts recently weighed in on TLRY shares. Canaccord Genuity Group reduced their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. CIBC reduced their price target on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Finally, Alliance Global Partners upped their price objective on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research report on Friday, April 5th.

Tilray Trading Down 5.5 %

The company has a current ratio of 1.92, a quick ratio of 1.18 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.28 billion, a P/E ratio of -3.95 and a beta of 2.36. The business has a 50 day moving average of $1.97 and a 200-day moving average of $1.97.

Institutional Investors Weigh In On Tilray

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Tilray by 63.2% in the 1st quarter. JPMorgan Chase & Co. now owns 266,929 shares of the company’s stock worth $2,073,000 after purchasing an additional 103,379 shares during the period. Raymond James & Associates boosted its position in shares of Tilray by 7.4% during the first quarter. Raymond James & Associates now owns 103,410 shares of the company’s stock worth $803,000 after buying an additional 7,135 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Tilray by 77.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 148,682 shares of the company’s stock worth $1,155,000 after buying an additional 65,079 shares in the last quarter. Cetera Advisor Networks LLC acquired a new stake in Tilray in the 1st quarter valued at approximately $82,000. Finally, Private Advisor Group LLC lifted its stake in Tilray by 25.6% in the 1st quarter. Private Advisor Group LLC now owns 51,937 shares of the company’s stock valued at $404,000 after acquiring an additional 10,587 shares in the last quarter. 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.