Tilray (NASDAQ:TLRY) Trading Up 3.8%

Shares of Tilray Inc (NASDAQ:TLRY) rose 3.8% during trading on Friday . The company traded as high as $1.85 and last traded at $1.82. Approximately 10,288,998 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 28,861,605 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

TLRY has been the topic of a number of recent analyst reports. CIBC cut their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. 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 report on Wednesday, April 10th. Finally, Alliance Global Partners upped their target price 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.

Tilray Trading Up 1.7 %

The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -4.05 and a beta of 2.36. The business’s 50 day moving average price is $1.95 and its 200-day moving average price is $1.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.18 and a current ratio of 1.92.

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently modified their holdings of the stock. Clear Street Markets LLC acquired a new stake in Tilray during the third quarter worth about $25,000. Lake Street Financial LLC acquired a new stake in Tilray during the third quarter worth about $28,000. Gainplan LLC acquired a new stake in Tilray during the fourth quarter worth about $28,000. Simplicity Wealth LLC acquired a new stake in Tilray during the first quarter worth about $28,000. Finally, RPO LLC acquired a new stake in Tilray during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.