Tilray (NASDAQ:TLRY) Stock Price Down 0.8%

Tilray Inc (NASDAQ:TLRY)’s stock price dropped 0.8% on Monday . The stock traded as low as $1.68 and last traded at $1.69. Approximately 3,133,599 shares changed hands during trading, a decline of 89% from the average daily volume of 28,294,684 shares. The stock had previously closed at $1.70.

Wall Street Analysts Forecast Growth

TLRY has been the subject of several research reports. Canaccord Genuity Group reduced their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. CIBC reduced their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Finally, Alliance Global Partners raised 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 Stock Performance

The stock has a market cap of $1.31 billion, a P/E ratio of -3.83 and a beta of 2.25. The firm’s 50-day moving average is $1.90 and its two-hundred day moving average is $1.96. The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clear Street Markets LLC bought a new position in shares of Tilray in the third quarter valued at approximately $25,000. Gainplan LLC bought a new position in shares of Tilray in the fourth quarter valued at approximately $28,000. Simplicity Wealth LLC bought a new position in shares of Tilray in the first quarter valued at approximately $28,000. RPO LLC bought a new position in shares of Tilray in the fourth quarter valued at approximately $28,000. Finally, Wellington Wealth Strategies LLC. bought a new position in shares of Tilray in the fourth quarter valued at approximately $29,000. Institutional investors own 9.35% of the company’s stock.

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.