Tilray (NASDAQ:TLRY) Trading 0.5% Higher

Tilray Inc (NASDAQ:TLRY) shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $1.99 and last traded at $1.96. 6,607,013 shares were traded during trading, a decline of 78% from the average session volume of 30,695,320 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TLRY shares. Canaccord Genuity Group cut their price target on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. CIBC lowered their price objective 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. Finally, Alliance Global Partners increased their price objective 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.

Tilray Trading Up 1.5 %

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 market cap of $1.53 billion, a P/E ratio of -4.45 and a beta of 2.36. The stock’s 50-day moving average is $1.99 and its two-hundred day moving average is $1.94.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in Tilray by 56.7% in the fourth quarter. SG Americas Securities LLC now owns 415,413 shares of the company’s stock worth $955,000 after acquiring an additional 150,247 shares during the period. Gotham Asset Management LLC raised its position in Tilray by 1,038.7% in the third quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company’s stock worth $2,793,000 after acquiring an additional 1,066,137 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tilray in the third quarter worth approximately $2,023,000. Public Sector Pension Investment Board increased its stake in shares of Tilray by 11.4% in the third quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock worth $3,630,000 after purchasing an additional 155,672 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Tilray in the fourth quarter worth $38,000. 9.35% of the stock is currently owned by institutional investors.

Tilray Company Profile

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.