Tilray (NASDAQ:TLRY) Shares Up 0.5%

Tilray Inc (NASDAQ:TLRY) traded up 0.5% on Tuesday . The stock traded as high as $2.08 and last traded at $2.06. 10,589,258 shares were traded during mid-day trading, a decline of 66% from the average session volume of 30,968,912 shares. The stock had previously closed at $2.05.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. CIBC decreased their price objective on Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Alliance Global Partners raised their price objective on Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Canaccord Genuity Group decreased their price objective on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 10th.

Tilray Price Performance

The company’s 50-day simple moving average is $1.98 and its 200-day simple moving average is $1.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -4.68 and a beta of 2.36.

Institutional Investors Weigh In On Tilray

Several hedge funds have recently bought and sold shares of the stock. Clear Street Markets LLC acquired a new stake in shares of Tilray in the third quarter valued at approximately $25,000. Gainplan LLC acquired a new stake in shares of Tilray in the fourth quarter valued at approximately $28,000. Simplicity Wealth LLC acquired a new stake in shares of Tilray in the first quarter valued at approximately $28,000. RPO LLC acquired a new stake in shares of Tilray in the fourth quarter valued at approximately $28,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of Tilray in the third quarter valued at approximately $29,000. 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.