Tilray (NASDAQ:TLRY) Trading 3.8% Higher

Tilray Inc (NASDAQ:TLRY) shares traded up 3.8% on Thursday . The company traded as high as $1.79 and last traded at $1.79. 11,610,644 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 29,361,824 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Alliance Global Partners lifted their price target on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a research note on Friday, April 5th. CIBC cut their price target on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Finally, Canaccord Genuity Group cut their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th.

Tilray Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $1.96 and its 200 day moving average price is $1.96.

Institutional Trading of Tilray

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Tilray by 56.7% during 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 in the last quarter. Gotham Asset Management LLC increased its holdings 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 purchasing an additional 1,066,137 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tilray in the third quarter valued at $2,023,000. Public Sector Pension Investment Board increased its holdings 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 valued at $3,630,000 after purchasing an additional 155,672 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of Tilray in the fourth quarter valued at $38,000. 9.35% of the stock is owned by 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.