Tilray Inc (NASDAQ:TLRY) Given Average Recommendation of “Hold” by Brokerages

Shares of Tilray Inc (NASDAQ:TLRY) have received a consensus recommendation of “Hold” from the four research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $2.71.

Several equities analysts recently issued reports on the company. Canaccord Genuity Group lowered their price objective on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. CIBC lowered their price objective on 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 boosted their target price on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research note on Friday, April 5th.

Tilray Stock Performance

Shares of TLRY opened at $1.83 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $1.97 and its 200-day moving average price is $1.97. Tilray has a 52 week low of $1.50 and a 52 week high of $3.40. The stock has a market cap of $1.36 billion, a P/E ratio of -4.16 and a beta of 2.36.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently added to or reduced their stakes in TLRY. Macquarie Group Ltd. increased its stake in shares of Tilray by 188.8% in the 2nd quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock worth $27,000 after purchasing an additional 5,583 shares in the last quarter. Cetera Advisor Networks LLC purchased a new stake in shares of Tilray in the 1st quarter worth $82,000. Clear Street Markets LLC purchased a new stake in shares of Tilray in the 3rd quarter worth $25,000. Kingsview Wealth Management LLC purchased a new stake in shares of Tilray in the 2nd quarter worth $33,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Tilray in the 4th quarter worth $30,000. 9.35% of the stock is currently 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.