Tilray (NASDAQ:TLRY) Stock Price Up 3.4%

Tilray Inc (NASDAQ:TLRY) was up 3.4% on Wednesday . The company traded as high as $2.00 and last traded at $2.00. Approximately 7,699,526 shares changed hands during trading, a decline of 70% from the average daily volume of 26,037,621 shares. The stock had previously closed at $1.93.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. CIBC reduced their target price on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Alliance Global Partners increased their target price 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. Finally, Canaccord Genuity Group cut their price target on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th.

Tilray Stock Down 1.6 %

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 $1.47 billion, a price-to-earnings ratio of -4.38 and a beta of 2.19. The business’s 50 day moving average is $1.81 and its 200 day moving average is $1.92.

Institutional Investors Weigh In On Tilray

A number of large investors have recently made changes to their positions in the stock. Redhawk Wealth Advisors Inc. acquired a new stake in Tilray during the 4th quarter worth about $38,000. SG Americas Securities LLC boosted its position in Tilray by 56.7% in the fourth quarter. SG Americas Securities LLC now owns 415,413 shares of the company’s stock valued at $955,000 after buying an additional 150,247 shares during the last quarter. Raymond James & Associates increased its holdings in Tilray by 20.6% in the 4th quarter. Raymond James & Associates now owns 95,329 shares of the company’s stock worth $219,000 after buying an additional 16,294 shares during the period. Roberts Wealth Advisors LLC purchased a new position in Tilray during the 4th quarter worth approximately $102,000. Finally, Arizona State Retirement System lifted its stake in Tilray by 8.2% during the 4th quarter. Arizona State Retirement System now owns 204,148 shares of the company’s stock valued at $470,000 after acquiring an additional 15,449 shares during the period. 9.35% of the stock is 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.