Tilray (NASDAQ:TLRY) Shares Up 2.1%

Tilray Inc (NASDAQ:TLRY)’s stock price traded up 2.1% during trading on Thursday . The company traded as high as $1.73 and last traded at $1.73. 4,623,500 shares traded hands 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

Several analysts have recently commented on TLRY shares. Canaccord Genuity Group reduced their price target on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Alliance Global Partners upped their target price on shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, CIBC decreased 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.

Tilray Trading Down 4.0 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.18 and a current ratio of 1.92. The business has a fifty day simple moving average of $1.85 and a 200 day simple moving average of $1.95. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -3.77 and a beta of 2.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC grew its stake in shares of Tilray by 36,687.0% during the 1st 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 during the period. Hudson Bay Capital Management LP grew its position in Tilray by 29.4% during 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 during the period. Gotham Asset Management LLC increased its stake in Tilray by 1,038.7% during 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 last quarter. Virtu Financial LLC acquired a new position in shares of Tilray in the 1st quarter valued at about $586,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Tilray by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after purchasing an additional 213,834 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other 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.