Tilray (NASDAQ:TLRY) Shares Down 2%

Shares of Tilray Inc (NASDAQ:TLRY) were down 2% during mid-day trading on Wednesday . The company traded as low as $1.94 and last traded at $1.94. Approximately 7,530,842 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 30,849,773 shares. The stock had previously closed at $1.98.

Analyst Ratings Changes

Several equities analysts have recently commented 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. Alliance Global Partners boosted their price target on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, CIBC cut their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th.

Tilray Trading Down 1.5 %

The company has a 50-day moving average of $1.99 and a 200 day moving average of $1.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18. The company has a market cap of $1.51 billion, a PE ratio of -4.41 and a beta of 2.36.

Institutional Trading of Tilray

A number of institutional investors have recently bought and sold shares of TLRY. Commonwealth Equity Services LLC lifted its holdings in shares of Tilray by 10.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 316,898 shares of the company’s stock worth $757,000 after acquiring an additional 29,564 shares during the last quarter. Independent Advisor Alliance lifted its stake in Tilray by 31.5% in the third quarter. Independent Advisor Alliance now owns 77,593 shares of the company’s stock worth $185,000 after purchasing an additional 18,568 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Tilray by 5.6% during the third quarter. TD Asset Management Inc now owns 1,204,434 shares of the company’s stock valued at $2,877,000 after buying an additional 64,300 shares during the period. CIBC Asset Management Inc grew its stake in shares of Tilray by 19.1% during the third quarter. CIBC Asset Management Inc now owns 648,800 shares of the company’s stock valued at $1,548,000 after buying an additional 104,072 shares during the last quarter. Finally, QCM Cayman Ltd. purchased a new stake in shares of Tilray in the third quarter worth approximately $159,000. 9.35% of the stock is currently owned by institutional investors.

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.