Tilray (NASDAQ:TLRY) Stock Price Up 3.6%

Tilray Inc (NASDAQ:TLRY) shares were up 3.6% during mid-day trading on Monday . The stock traded as high as $1.73 and last traded at $1.72. Approximately 3,563,021 shares changed hands during trading, a decline of 87% from the average daily volume of 27,070,199 shares. The stock had previously closed at $1.66.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TLRY. Alliance Global Partners lifted their price target on Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research note on Friday, April 5th. CIBC decreased their target price 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, Canaccord Genuity Group dropped their price target 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.

Tilray Trading Down 1.8 %

The stock has a 50-day moving average price of $1.84 and a two-hundred day moving average price of $1.94. The stock has a market capitalization of $1.28 billion, a P/E ratio of -3.75 and a beta of 2.20. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.18 and a current ratio of 1.92.

Institutional Investors Weigh In On Tilray

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hudson Bay Capital Management LP raised its stake in Tilray by 29.4% in the third quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company’s stock worth $38,673,000 after buying an additional 3,681,157 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after acquiring an additional 10,648,403 shares during the period. Vanguard Group Inc. raised its position in shares of Tilray by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after acquiring an additional 117,891 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tilray by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock valued at $6,699,000 after purchasing an additional 213,834 shares during the period. Finally, Public Sector Pension Investment Board boosted its position in shares of Tilray by 11.4% during the third quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock valued at $3,630,000 after purchasing an additional 155,672 shares in the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.