Tilray (NASDAQ:TLRY) Stock Price Up 0.3%

Tilray Inc (NASDAQ:TLRY)’s stock price rose 0.3% during trading on Wednesday . The company traded as high as $1.63 and last traded at $1.63. Approximately 2,464,525 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 27,414,826 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

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

Tilray Stock Up 3.7 %

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 firm has a market cap of $1.30 billion, a price-to-earnings ratio of -3.69 and a beta of 2.25. The stock’s 50 day moving average is $1.85 and its 200 day moving average is $1.95.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new position in Tilray in the first quarter worth approximately $28,000. RPO LLC acquired a new position in Tilray in the fourth quarter worth approximately $28,000. Gainplan LLC acquired a new position in Tilray in the fourth quarter worth approximately $28,000. Wellington Wealth Strategies LLC. purchased a new position in Tilray during the 4th quarter worth approximately $29,000. Finally, International Assets Investment Management LLC grew its position in Tilray by 179.0% during the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock worth $34,000 after purchasing an additional 9,453 shares in the last quarter. 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.