Tilray (NASDAQ:TLRY) Trading Up 3.8%

Tilray Inc (NASDAQ:TLRY) shares traded up 3.8% during mid-day trading on Friday . The stock traded as high as $1.85 and last traded at $1.82. 10,288,998 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 28,861,605 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

Several equities analysts recently commented on TLRY shares. CIBC dropped their price target 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. 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. Finally, Canaccord Genuity Group cut their target price on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th.

Tilray Trading Up 1.7 %

The business’s 50-day simple moving average is $1.95 and its two-hundred day simple moving average is $1.94. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -4.13 and a beta of 2.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP raised its position in 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 purchasing an additional 3,681,157 shares during the period. Gotham Asset Management LLC grew its stake in shares of Tilray by 1,038.7% in the third quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company’s stock valued at $2,793,000 after buying an additional 1,066,137 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Tilray during the 3rd quarter valued at about $2,023,000. SG Americas Securities LLC lifted its position in Tilray by 272.5% during the 3rd quarter. SG Americas Securities LLC now owns 265,166 shares of the company’s stock worth $634,000 after acquiring an additional 193,986 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Tilray by 482.8% in the 4th quarter. Mackenzie Financial Corp now owns 206,659 shares of the company’s stock worth $477,000 after acquiring an additional 171,200 shares during the period. Institutional investors and hedge funds 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.