Tilray (NASDAQ:TLRY) Trading 4.8% Higher

Tilray Inc (NASDAQ:TLRY) shares traded up 4.8% on Thursday . The stock traded as high as $1.79 and last traded at $1.73. 16,945,357 shares traded hands during mid-day trading, an increase of 48% from the average session volume of 11,455,357 shares. The stock had previously closed at $1.65.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. CIBC lowered their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Canaccord Genuity Group lowered their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Alliance Global Partners raised their price objective on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research report on Friday, April 5th.

Tilray Stock Up 4.8 %

The company has a market cap of $1.34 billion, a P/E ratio of -3.93 and a beta of 2.19. 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 firm’s 50 day moving average price is $1.84 and its 200-day moving average price is $1.94.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TLRY. Gainplan LLC bought a new position in shares of Tilray in the 4th quarter valued at about $28,000. Simplicity Wealth LLC bought a new position in shares of Tilray in the 1st quarter valued at about $28,000. RPO LLC bought a new position in Tilray during the 4th quarter worth approximately $28,000. Wellington Wealth Strategies LLC. bought a new position in Tilray during the 4th quarter worth approximately $29,000. Finally, International Assets Investment Management LLC boosted its stake in Tilray by 179.0% during the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock worth $34,000 after acquiring an additional 9,453 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

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.