Tilray (NASDAQ:TLRY) Trading 2.9% Higher

Tilray Inc (NASDAQ:TLRY)’s stock price rose 2.9% during trading on Monday . The stock traded as high as $2.22 and last traded at $2.16. Approximately 15,613,772 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 31,006,447 shares. The stock had previously closed at $2.10.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Alliance Global Partners raised their price objective 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. CIBC dropped their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group reduced their price objective on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th.

Tilray Stock Performance

The firm has a 50-day simple moving average of $1.99 and a two-hundred day simple moving average of $1.94. 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 has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.43 and a beta of 2.36.

Institutional Trading of Tilray

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hudson Bay Capital Management LP boosted its holdings in Tilray by 29.4% during the third quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company’s stock valued at $38,673,000 after acquiring an additional 3,681,157 shares during the period. Gotham Asset Management LLC lifted its holdings in shares of Tilray by 1,038.7% during the third quarter. Gotham Asset Management LLC now owns 1,168,774 shares of the company’s stock worth $2,793,000 after buying an additional 1,066,137 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tilray in the third quarter valued at approximately $2,023,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tilray by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after acquiring an additional 213,834 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Tilray by 482.8% during the fourth quarter. Mackenzie Financial Corp now owns 206,659 shares of the company’s stock worth $477,000 after acquiring an additional 171,200 shares during the period. 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.