Tilray (NASDAQ:TLRY) Stock Price Up 3.8%

Tilray Inc (NASDAQ:TLRY) rose 3.8% on Thursday . The company traded as high as $1.79 and last traded at $1.79. Approximately 11,610,644 shares were traded during trading, a decline of 60% from the average daily volume of 29,361,824 shares. The stock had previously closed at $1.72.

Wall Street Analysts Forecast Growth

TLRY has been the subject of a number of analyst reports. Alliance Global Partners lifted their target price 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. Canaccord Genuity Group lowered their target price on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, CIBC lowered their target price on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, April 10th.

Tilray Price Performance

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 firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -3.95 and a beta of 2.36. The business’s fifty day simple moving average is $1.96 and its 200 day simple moving average is $1.96.

Institutional Investors Weigh In On Tilray

A number of large investors have recently bought and sold shares of the stock. HighPoint Advisor Group LLC acquired a new stake in Tilray in the fourth quarter worth $43,000. Vanguard Group Inc. grew its holdings in shares of Tilray by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 3,407,269 shares of the company’s stock valued at $7,837,000 after buying an additional 231,381 shares during the last quarter. Austin Wealth Management LLC acquired a new position in shares of Tilray during the fourth quarter valued at about $115,000. Wellington Wealth Strategies LLC. acquired a new position in shares of Tilray during the fourth quarter valued at about $29,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Tilray by 35.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,362,271 shares of the company’s stock valued at $5,433,000 after buying an additional 620,700 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.