Tilray (NASDAQ:TLRY) Stock Price Up 2.1%

Tilray Inc (NASDAQ:TLRY) shares traded up 2.1% on Thursday . The company traded as high as $1.73 and last traded at $1.73. 4,623,500 shares were traded during mid-day trading, a decline of 83% from the average session volume of 27,311,098 shares. The stock had previously closed at $1.69.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TLRY shares. CIBC cut their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Canaccord Genuity Group lowered 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 shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a report on Friday, April 5th.

Tilray Stock Up 0.8 %

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -3.92 and a beta of 2.25. The firm has a 50 day moving average price of $1.85 and a 200-day moving average price of $1.95. The company has a current ratio of 1.92, a quick ratio of 1.18 and a debt-to-equity ratio of 0.11.

Institutional Trading of Tilray

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

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.