Tilray (NASDAQ:TLRY) Shares Up 2.6%

Tilray Inc (NASDAQ:TLRYGet Free Report) shares rose 2.6% during mid-day trading on Monday . The company traded as high as $1.80 and last traded at $1.78. Approximately 4,222,814 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 26,589,881 shares. The stock had previously closed at $1.73.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. CIBC cut their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Alliance Global Partners boosted their price target 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 decreased their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th.

Read Our Latest Analysis on Tilray

Tilray Stock 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 stock has a market cap of $1.42 billion, a price-to-earnings ratio of -4.16 and a beta of 2.19. The stock’s 50 day moving average is $1.82 and its two-hundred day moving average is $1.93.

Institutional Trading of Tilray

Hedge funds have recently added to or reduced their stakes in the stock. Gainplan LLC purchased a new position in Tilray in the 4th quarter valued at $28,000. Simplicity Wealth LLC purchased a new stake in shares of Tilray in the first quarter valued at approximately $28,000. RPO LLC purchased a new position in Tilray in the fourth quarter worth $28,000. Wellington Wealth Strategies LLC. acquired a new position in shares of Tilray during the 4th quarter worth $29,000. Finally, International Assets Investment Management LLC grew its stake in shares of Tilray by 179.0% during the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock worth $34,000 after purchasing an additional 9,453 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray

(Get Free Report)

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.

Further Reading

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