Tilray (NASDAQ:TLRY) Stock Price Up 6.9%

Tilray Inc (NASDAQ:TLRY) shares rose 6.9% on Friday . The company traded as high as $2.17 and last traded at $2.16. Approximately 17,430,049 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 30,999,646 shares. The stock had previously closed at $2.02.

Wall Street Analysts Forecast Growth

TLRY has been the subject of a number of recent analyst reports. CIBC lowered their price target on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Alliance Global Partners upped their price target on shares of Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Canaccord Genuity Group lowered their price target on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 10th.

Tilray Trading Up 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 firm has a market capitalization of $1.63 billion, a PE ratio of -4.77 and a beta of 2.36. The stock’s 50-day simple moving average is $1.98 and its 200-day simple moving average is $1.94.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Clear Street Markets LLC bought a new position in Tilray in the 3rd quarter worth $25,000. Simplicity Wealth LLC bought a new position in shares of Tilray in the 1st quarter worth about $28,000. RPO LLC bought a new position in shares of Tilray in the 4th quarter worth about $28,000. Great Valley Advisor Group Inc. bought a new position in shares of Tilray in the 3rd quarter worth about $29,000. Finally, Gainplan LLC bought a new position in shares of Tilray in the 4th quarter worth about $28,000. 9.35% of the stock is currently 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.