Tilray (NASDAQ:TLRY) Sees Unusually-High Trading Volume

Shares of Tilray Inc (NASDAQ:TLRY) saw unusually-high trading volume on Tuesday . Approximately 28,017,492 shares traded hands during mid-day trading, a decline of 0% from the previous session’s volume of 28,109,949 shares.The stock last traded at $2.08 and had previously closed at $2.59.

Analyst Ratings Changes

TLRY has been the subject of several recent research reports. CIBC lowered their price objective on Tilray from $2.25 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday. Alliance Global Partners upped their target price on Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Canaccord Genuity Group decreased their target price on Tilray from $4.25 to $4.00 and set a “buy” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.04.

Tilray Stock Performance

The company has a market capitalization of $1.50 billion, a PE ratio of -0.91 and a beta of 2.36. The company has a 50 day moving average of $1.97 and a two-hundred 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 Buying and Selling

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

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently modified their holdings of TLRY. Mercer Global Advisors Inc. ADV boosted its position in shares of Tilray by 10.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 28,072 shares of the company’s stock valued at $77,000 after buying an additional 2,550 shares during the last quarter. Rhumbline Advisers lifted its holdings in Tilray by 20.4% in the second quarter. Rhumbline Advisers now owns 15,464 shares of the company’s stock valued at $48,000 after acquiring an additional 2,623 shares during the period. CreativeOne Wealth LLC lifted its holdings in Tilray by 8.0% in the third quarter. CreativeOne Wealth LLC now owns 40,591 shares of the company’s stock valued at $112,000 after acquiring an additional 2,994 shares during the period. State of Wyoming lifted its holdings in Tilray by 17.0% in the fourth quarter. State of Wyoming now owns 24,561 shares of the company’s stock valued at $66,000 after acquiring an additional 3,564 shares during the period. Finally, Mariner LLC raised its stake in shares of Tilray by 11.1% in the fourth quarter. Mariner LLC now owns 49,469 shares of the company’s stock worth $133,000 after buying an additional 4,945 shares during the period. 9.35% of the stock is owned by hedge funds and other 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.