Tilray (NASDAQ:TLRY) Trading Up 2.1%

Shares of Tilray Inc (NASDAQ:TLRY) shot up 2.1% during trading on Thursday . The stock traded as high as $1.73 and last traded at $1.73. 4,623,500 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 27,311,098 shares. The stock had previously closed at $1.69.

Wall Street Analysts Forecast Growth

TLRY has been the topic of several research reports. CIBC reduced their target price on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Alliance Global Partners boosted their price objective on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Canaccord Genuity Group dropped their target price on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 10th.

Tilray Price Performance

The company has a current ratio of 1.92, a quick ratio of 1.18 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.28 billion, a PE ratio of -3.77 and a beta of 2.25. The stock’s 50-day moving average is $1.85 and its two-hundred day moving average is $1.95.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Gainplan LLC purchased a new position in Tilray during the 4th quarter valued at $28,000. Simplicity Wealth LLC purchased a new stake in shares of Tilray during the first quarter valued at $28,000. RPO LLC bought a new position in shares of Tilray in the fourth quarter worth about $28,000. Wellington Wealth Strategies LLC. purchased a new position in Tilray in the 4th quarter worth about $29,000. Finally, International Assets Investment Management LLC lifted its holdings in Tilray by 179.0% during the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock valued at $34,000 after buying an additional 9,453 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other 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.