Tilray Inc (NASDAQ:TLRY) dropped 5.7% during mid-day trading on Tuesday . The company traded as low as $21.13 and last traded at $24.79. Approximately 27,204,971 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 54,809,188 shares. The stock had previously closed at $26.29.
TLRY has been the topic of a number of research reports. Stifel Nicolaus upgraded shares of Tilray from a “sell” rating to a “hold” rating in a report on Thursday, December 17th. Piper Sandler downgraded shares of Tilray from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $15.00 to $26.00 in a report on Thursday, February 18th. BMO Capital Markets upped their target price on shares of Tilray from $9.00 to $22.00 and gave the company a “market perform” rating in a research report on Thursday, February 18th. Jefferies Financial Group downgraded shares of Tilray from a “hold” rating to an “underperform” rating and lowered their price target for the company from $5.60 to $4.77 in a report on Monday, November 16th. Finally, Zacks Investment Research cut Tilray from a “buy” rating to a “hold” rating in a research note on Friday, February 5th. Two equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.98.
The stock has a fifty day moving average price of $22.04 and a 200-day moving average price of $10.68. The firm has a market capitalization of $3.31 billion, a PE ratio of -5.46 and a beta of 3.12. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.61 and a current ratio of 2.28.
Several large investors have recently made changes to their positions in TLRY. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Tilray by 10.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,590 shares of the company’s stock valued at $100,000 after acquiring an additional 1,927 shares during the period. Raymond James & Associates increased its holdings in shares of Tilray by 60.7% in the 3rd quarter. Raymond James & Associates now owns 17,515 shares of the company’s stock valued at $85,000 after acquiring an additional 6,614 shares during the period. California Public Employees Retirement System grew its stake in Tilray by 5.9% during the 3rd quarter. California Public Employees Retirement System now owns 216,700 shares of the company’s stock worth $1,051,000 after buying an additional 12,000 shares during the last quarter. LPL Financial LLC grew its stake in Tilray by 108.9% during the 3rd quarter. LPL Financial LLC now owns 51,152 shares of the company’s stock worth $248,000 after buying an additional 26,662 shares during the last quarter. Finally, National Asset Management Inc. grew its stake in Tilray by 87.7% during the 3rd quarter. National Asset Management Inc. now owns 19,090 shares of the company’s stock worth $93,000 after buying an additional 8,920 shares during the last quarter. Institutional investors and hedge funds own 12.62% of the company’s stock.
About Tilray (NASDAQ:TLRY)
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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