Tilray (NASDAQ:TLRY) Trading Up 3.8%

Tilray Inc (NASDAQ:TLRY)’s stock price was up 3.8% during trading on Tuesday . The stock traded as high as $1.80 and last traded at $1.79. Approximately 6,988,291 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 29,137,781 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TLRY. Canaccord Genuity Group lowered their price objective on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Alliance Global Partners boosted their target price on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, CIBC reduced their price target on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research 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’s fifty day moving average is $1.95 and its two-hundred day moving average is $1.95. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -4.06 and a beta of 2.36.

Institutional Trading of Tilray

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vontobel Holding Ltd. increased its stake in Tilray by 17.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 270,837 shares of the company’s stock worth $647,000 after buying an additional 41,175 shares during the period. Arkadios Wealth Advisors increased its position in shares of Tilray by 14.1% during the third quarter. Arkadios Wealth Advisors now owns 65,737 shares of the company’s stock worth $157,000 after acquiring an additional 8,100 shares during the period. SG Americas Securities LLC boosted its stake in shares of Tilray by 272.5% in the 3rd quarter. SG Americas Securities LLC now owns 265,166 shares of the company’s stock valued at $634,000 after buying an additional 193,986 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of Tilray by 16.5% during the third quarter. Newbridge Financial Services Group Inc. now owns 43,606 shares of the company’s stock worth $104,000 after buying an additional 6,182 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Tilray during the third quarter worth approximately $112,000. 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.