Tilray (NASDAQ:TLRY) Shares Up 2.9%

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares shot up 2.9% during trading on Wednesday . The company traded as high as $2.17 and last traded at $2.12. 17,556,624 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 28,735,438 shares. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. CIBC reduced their target price on Tilray from $2.25 to $2.00 and set a "neutral" rating on the stock in a report on Wednesday. Alliance Global Partners boosted their price objective on Tilray from $2.25 to $2.75 and gave the stock a "neutral" rating in a report on Friday, April 5th. 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 report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $3.04.

Tilray Stock Down 1.7 %

The firm has a market capitalization of $1.50 billion, a P/E ratio of -0.91 and a beta of 2.36. The stock has a fifty day moving average of $1.97 and a 200 day moving average of $1.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.63 and a quick ratio of 0.99.

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 20,000 shares of the firm's stock in a transaction that occurred on Friday, January 12th. The stock was acquired at an average price of $1.87 per share, for a total transaction of $37,400.00. Following the completion of the acquisition, the chief financial officer now owns 20,000 shares of the company's stock, valued at approximately $37,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Irwin D. Simon acquired 53,700 shares of Tilray stock in a transaction that occurred on Friday, January 12th. The stock was bought at an average price of $1.88 per share, with a total value of $100,956.00. Following the completion of the purchase, the chief executive officer now owns 2,033,058 shares in the company, valued at $3,822,149.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Carl A. Merton acquired 20,000 shares of Tilray stock in a transaction that occurred on Friday, January 12th. The shares were purchased at an average cost of $1.87 per share, with a total value of $37,400.00. Following the purchase, the chief financial officer now owns 20,000 shares of the company's stock, valued at approximately $37,400. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 96,300 shares of company stock worth $183,210. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV grew its position in shares of Tilray by 10.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 28,072 shares of the company's stock worth $77,000 after buying an additional 2,550 shares during the period. Rhumbline Advisers lifted its stake in shares of Tilray by 20.4% in the 2nd quarter. Rhumbline Advisers now owns 15,464 shares of the company's stock worth $48,000 after purchasing an additional 2,623 shares during the period. CreativeOne Wealth LLC increased its holdings in Tilray by 8.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 40,591 shares of the company's stock worth $112,000 after acquiring an additional 2,994 shares in the last quarter. State of Wyoming increased its holdings in Tilray by 17.0% in the 4th quarter. State of Wyoming now owns 24,561 shares of the company's stock worth $66,000 after acquiring an additional 3,564 shares in the last quarter. Finally, Mariner LLC grew its holdings in Tilray by 11.1% during the 4th quarter. Mariner LLC now owns 49,469 shares of the company's stock valued at $133,000 after buying an additional 4,945 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.