Tilray (NASDAQ:TLRY) Shares Up 6.9%

Tilray Inc (NASDAQ:TLRY)’s share price traded up 6.9% during trading on Wednesday . The stock traded as high as $1.78 and last traded at $1.76. 9,075,062 shares traded hands during trading, a decline of 66% from the average session volume of 26,833,531 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

TLRY has been the subject of a number of analyst reports. CIBC reduced their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Canaccord Genuity Group lowered their price target on 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 boosted their price objective 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 Price Performance

The company’s 50 day moving average price is $1.84 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. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -4.01 and a beta of 2.20.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC bought a new position in Tilray in the 1st quarter valued at $28,000. RPO LLC acquired a new stake in Tilray in the 4th quarter valued at about $28,000. Gainplan LLC bought a new position in shares of Tilray in the fourth quarter worth about $28,000. Wellington Wealth Strategies LLC. bought a new stake in shares of Tilray during the fourth quarter valued at approximately $29,000. Finally, International Assets Investment Management LLC lifted its holdings 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 buying an additional 9,453 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.