Tilray Inc (NASDAQ:TLRY – Get Free Report)’s share price fell 4% during mid-day trading on Friday . The stock traded as low as $1.66 and last traded at $1.66. 3,753,590 shares were traded during trading, a decline of 86% from the average session volume of 27,195,645 shares. The stock had previously closed at $1.73.
Analyst Upgrades and Downgrades
TLRY has been the subject of a number of research reports. Canaccord Genuity Group cut their price target on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Alliance Global Partners increased their target price on Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, CIBC dropped their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th.
Read Our Latest Stock Report on TLRY
Tilray Stock Performance
Institutional Investors Weigh In On Tilray
Several institutional investors have recently added to or reduced their stakes in TLRY. Kestra Advisory Services LLC boosted its holdings in shares of Tilray by 58.8% during the third quarter. Kestra Advisory Services LLC now owns 104,554 shares of the company’s stock worth $250,000 after purchasing an additional 38,712 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tilray in the 3rd quarter worth approximately $2,023,000. Gotham Asset Management LLC increased its stake in shares of Tilray by 1,038.7% during the third quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company’s stock valued at $2,793,000 after buying an additional 1,066,137 shares during the period. Alberta Investment Management Corp raised its holdings in shares of Tilray by 18.0% during the third quarter. Alberta Investment Management Corp now owns 632,600 shares of the company’s stock valued at $1,511,000 after acquiring an additional 96,300 shares in the last quarter. Finally, Penserra Capital Management LLC raised its holdings in shares of Tilray by 6.9% during the third quarter. Penserra Capital Management LLC now owns 1,168,784 shares of the company’s stock valued at $2,793,000 after acquiring an additional 75,000 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.
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.
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