Tilray (NASDAQ:TLRY) Trading Up 0.2%

Shares of Tilray Inc (NASDAQ:TLRY) shot up 0.2% on Thursday . The company traded as high as $1.81 and last traded at $1.79. 4,541,351 shares traded hands during trading, a decline of 82% from the average session volume of 25,724,287 shares. The stock had previously closed at $1.79.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TLRY. Alliance Global Partners upped their price objective on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a report on Friday, April 5th. CIBC lowered 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. Finally, Canaccord Genuity Group lowered their target price on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th.

Tilray Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18. The company has a 50-day moving average price of $1.79 and a 200-day moving average price of $1.90. The firm has a market capitalization of $1.42 billion, a PE ratio of -4.08 and a beta of 2.19.

Institutional Trading of Tilray

Institutional investors and hedge funds have recently made changes to their positions in the stock. Prospect Financial Services LLC purchased a new stake in shares of Tilray in the second quarter valued at $26,000. Gainplan LLC purchased a new position in Tilray during the fourth quarter worth about $28,000. Simplicity Wealth LLC purchased a new position in Tilray during the first quarter worth about $28,000. RPO LLC purchased a new position in Tilray during the fourth quarter worth about $28,000. Finally, Wellington Wealth Strategies LLC. purchased a new position in Tilray during the fourth quarter worth about $29,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.