Tilray (NASDAQ:TLRY) Trading Up 6.9%

Shares of Tilray Inc (NASDAQ:TLRY) rose 6.9% during mid-day trading on Wednesday . The company traded as high as $1.78 and last traded at $1.76. Approximately 9,075,062 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 26,833,531 shares. The stock had previously closed at $1.65.

Wall Street Analyst Weigh In

TLRY has been the topic of a number of analyst reports. CIBC dropped their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Canaccord Genuity Group dropped their price target on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, 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 report on Friday, April 5th.

Tilray Trading Up 4.8 %

The business’s 50 day moving average price is $1.84 and its two-hundred day moving average price is $1.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.18 and a current ratio of 1.92. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -4.01 and a beta of 2.20.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP lifted its stake in Tilray by 29.4% during the third quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company’s stock valued at $38,673,000 after purchasing an additional 3,681,157 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after acquiring an additional 10,648,403 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after purchasing an additional 117,891 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tilray by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock valued at $6,699,000 after purchasing an additional 213,834 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in Tilray by 11.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock worth $3,630,000 after purchasing an additional 155,672 shares in the last quarter. 9.35% of the stock is 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.