Tilray (NASDAQ:TLRY) Shares Up 0.5%

Tilray Inc (NASDAQ:TLRY)’s stock price shot up 0.5% during trading on Tuesday . The company traded as high as $2.08 and last traded at $2.06. 10,589,258 shares were traded during mid-day trading, a decline of 66% from the average session volume of 30,968,912 shares. The stock had previously closed at $2.05.

Wall Street Analysts Forecast Growth

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

Tilray Stock Down 2.9 %

The company’s 50 day moving average price is $1.98 and its two-hundred day moving average price is $1.94. 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 $1.54 billion, a P/E ratio of -4.68 and a beta of 2.36.

Institutional Investors Weigh In On Tilray

Institutional investors and hedge funds have recently modified their holdings of the stock. Concurrent Investment Advisors LLC bought a new position in shares of Tilray in the first quarter worth about $75,000. Swiss National Bank grew its stake in shares of Tilray by 3.6% during the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock worth $3,683,000 after purchasing an additional 51,700 shares during the period. Essex LLC acquired a new stake in shares of Tilray during the 1st quarter worth approximately $49,000. CapWealth Advisors LLC lifted its position in shares of Tilray by 12.5% during the 1st quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock valued at $222,000 after buying an additional 10,000 shares in the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in Tilray by 320.9% in the 1st quarter. Capstone Investment Advisors LLC now owns 95,736 shares of the company’s stock valued at $236,000 after purchasing an additional 72,989 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

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.