Tilray (NASDAQ:TLRY) Stock Price Up 6.9%

Tilray Inc (NASDAQ:TLRY) shares traded up 6.9% during trading on Friday . The company traded as high as $2.17 and last traded at $2.16. 17,430,049 shares changed hands during trading, a decline of 44% from the average session volume of 30,999,646 shares. The stock had previously closed at $2.02.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. CIBC lowered their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Canaccord Genuity Group lowered their price objective on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research 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 company a “neutral” rating in a research report on Friday, April 5th.

Tilray Trading Up 4.0 %

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 company’s fifty day moving average is $1.98 and its 200-day moving average is $1.94. The firm has a market capitalization of $1.63 billion, a P/E ratio of -4.77 and a beta of 2.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Clear Street Markets LLC bought a new stake in shares of Tilray in the third quarter valued at about $25,000. Simplicity Wealth LLC acquired a new position in Tilray in the 1st quarter valued at approximately $28,000. RPO LLC bought a new stake in shares of Tilray in the 4th quarter worth approximately $28,000. Great Valley Advisor Group Inc. bought a new stake in shares of Tilray in the 3rd quarter worth approximately $29,000. Finally, Gainplan LLC acquired a new stake in shares of Tilray during the 4th quarter worth approximately $28,000. Institutional investors 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.