Tilray (NASDAQ:TLRY) Shares Up 6.9%

Tilray Inc (NASDAQ:TLRY)’s share price traded up 6.9% during mid-day 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on TLRY. CIBC lowered their price objective 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. Canaccord Genuity Group decreased their price target 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, Alliance Global Partners increased their price objective on shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research report on Friday, April 5th.

Tilray Price Performance

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 stock’s 50 day simple moving average is $1.98 and its 200 day simple moving average is $1.94.

Institutional Investors Weigh In On Tilray

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