Tilray (NASDAQ:TLRY) Trading 3.8% Higher

Shares of Tilray Inc (NASDAQ:TLRY) traded up 3.8% during mid-day trading on Thursday . The company traded as high as $1.79 and last traded at $1.79. 11,610,644 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 29,361,824 shares. The stock had previously closed at $1.72.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group cut their target price on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. CIBC dropped their price target on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Finally, Alliance Global Partners increased their price target on shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research note on Friday, April 5th.

Tilray Trading Up 0.6 %

The business’s 50 day moving average is $1.96 and its 200-day moving average is $1.96. The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Clear Street Markets LLC acquired a new position in Tilray in the 3rd quarter valued at $25,000. Macquarie Group Ltd. grew its position in Tilray by 188.8% in the 2nd quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock worth $27,000 after purchasing an additional 5,583 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Tilray in the 4th quarter worth $27,000. Captrust Financial Advisors grew its position in Tilray by 47.9% in the 2nd quarter. Captrust Financial Advisors now owns 17,821 shares of the company’s stock worth $28,000 after purchasing an additional 5,768 shares during the last quarter. Finally, Lake Street Financial LLC acquired a new stake in Tilray in the 3rd quarter worth $28,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.