Shares of Tilray Inc (NASDAQ:TLRY – Get Free Report) shot up 0.5% during trading on Thursday . The company traded as high as $1.99 and last traded at $1.96. 6,607,013 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 30,695,320 shares. The stock had previously closed at $1.95.
Wall Street Analysts Forecast Growth
A number of research firms have commented on TLRY. CIBC cut their price objective on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, April 10th. Canaccord Genuity Group cut their price target on shares of Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Finally, Alliance Global Partners raised their price target on shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a report on Friday, April 5th.
Read Our Latest Research Report on TLRY
Tilray Price Performance
Institutional Trading of Tilray
Several institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP increased its holdings in Tilray by 29.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company’s stock valued at $38,673,000 after purchasing an additional 3,681,157 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 last quarter. Public Sector Pension Investment Board boosted its position in Tilray by 11.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,519,415 shares of the company’s stock valued at $3,630,000 after buying an additional 155,672 shares during the period. Swiss National Bank lifted its position in shares of Tilray by 3.6% during the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock worth $3,683,000 after purchasing an additional 51,700 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Tilray by 3.2% during the 4th quarter. TD Asset Management Inc now owns 1,242,538 shares of the company’s stock worth $2,883,000 after acquiring an additional 38,104 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.
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.
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