Tilray (NASDAQ:TLRY) Shares Gap Up to $2.66

Tilray Inc (NASDAQ:TLRY) gapped up before the market opened on Thursday . The stock had previously closed at $2.66, but opened at $2.75. Tilray shares last traded at $2.75, with a volume of 8,304,407 shares.

Analyst Upgrades and Downgrades

TLRY has been the subject of several recent analyst reports. Alliance Global Partners decreased their target price on Tilray from $3.00 to $2.00 in a research note on Thursday, July 27th. ATB Capital raised their target price on Tilray from $2.50 to $3.00 in a research note on Thursday, July 27th. CIBC decreased their target price on Tilray from $2.75 to $2.25 in a research note on Thursday, July 27th. Finally, Piper Sandler decreased their target price on Tilray from $3.00 to $2.00 in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Tilray currently has a consensus rating of “Hold” and a consensus target price of $3.13.

Tilray Trading Up 11.3 %

The firm has a fifty day simple moving average of $2.08 and a 200-day simple moving average of $2.28. The firm has a market cap of $2.08 billion, a P/E ratio of -1.25 and a beta of 2.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.79 and a quick ratio of 1.32.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. lifted its holdings in shares of Tilray by 188.8% in the second quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock valued at $27,000 after purchasing an additional 5,583 shares in the last quarter. Coastal Investment Advisors Inc. bought a new position in shares of Tilray in the first quarter valued at approximately $25,000. Kennedy Investment Group bought a new position in shares of Tilray in the first quarter valued at approximately $25,000. Cetera Advisor Networks LLC bought a new position in shares of Tilray in the first quarter valued at approximately $82,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Tilray in the second quarter valued at approximately $33,000. Institutional investors own 8.86% 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.