Tilray Inc (NASDAQ:TLRY – Get Free Report) fell 0.3% during mid-day trading on Friday . The company traded as low as $1.70 and last traded at $1.72. 4,315,466 shares traded hands during trading, a decline of 84% from the average session volume of 26,714,943 shares. The stock had previously closed at $1.73.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TLRY. Alliance Global Partners lifted their target price on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Canaccord Genuity Group dropped their target price on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Finally, CIBC lowered their price objective on Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th.
Read Our Latest Research Report on Tilray
Tilray Stock Performance
Hedge Funds Weigh In On Tilray
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its stake in Tilray by 56.7% in the fourth quarter. SG Americas Securities LLC now owns 415,413 shares of the company’s stock valued at $955,000 after acquiring an additional 150,247 shares during the period. Public Sector Pension Investment Board boosted its stake in Tilray by 11.4% in the third quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock valued at $3,630,000 after acquiring an additional 155,672 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in Tilray in the fourth quarter valued at approximately $38,000. Banque Pictet & Cie SA acquired a new position in Tilray in the third quarter valued at approximately $84,000. Finally, Arizona State Retirement System boosted its position in shares of Tilray by 8.2% during the fourth quarter. Arizona State Retirement System now owns 204,148 shares of the company’s stock worth $470,000 after buying an additional 15,449 shares during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.
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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