Tilray Inc (NASDAQ:TLRY – Get Free Report) shares traded down 4.9% during trading on Wednesday . The stock traded as low as $1.73 and last traded at $1.74. 11,608,717 shares were traded during mid-day trading, a decline of 60% from the average session volume of 29,185,414 shares. The stock had previously closed at $1.83.
Wall Street Analysts Forecast Growth
TLRY has been the subject of a number of research analyst reports. Alliance Global Partners boosted their target price on Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research report on Friday, April 5th. Canaccord Genuity Group decreased their price objective on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Finally, CIBC lowered their target price on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th.
Check Out Our Latest Analysis on Tilray
Tilray Stock Performance
Institutional Investors Weigh In On Tilray
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Clear Street Markets LLC purchased a new stake in shares of Tilray in the third quarter valued at about $25,000. Macquarie Group Ltd. increased its stake in Tilray by 188.8% in the 2nd quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock valued at $27,000 after buying an additional 5,583 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Tilray during the 4th quarter worth approximately $27,000. Lake Street Financial LLC purchased a new position in shares of Tilray in the 3rd quarter worth approximately $28,000. Finally, Gainplan LLC bought a new position in shares of Tilray in the fourth quarter valued at approximately $28,000. 9.35% of the stock is owned by hedge funds and other institutional investors.
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.
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