Tilray (NASDAQ:TLRY) Trading Up 1.2%

Tilray Inc (NASDAQ:TLRY)’s stock price rose 1.2% during trading on Wednesday . The stock traded as high as $1.72 and last traded at $1.70. Approximately 7,280,736 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 25,330,779 shares. The stock had previously closed at $1.68.

Tilray Stock Performance

The company’s 50-day simple moving average is $1.82 and its 200 day simple moving average is $1.88. The company has a current ratio of 2.27, a quick ratio of 1.42 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.26 billion, a P/E ratio of -3.74 and a beta of 2.19.

Tilray (NASDAQ:TLRY) last released its earnings results on Monday, July 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $229.90 million for the quarter, compared to the consensus estimate of $226.20 million. Tilray had a negative return on equity of 2.63% and a negative net margin of 30.26%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts expect that Tilray Inc will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after purchasing an additional 9,171 shares during the last quarter. CapWealth Advisors LLC increased its holdings in Tilray by 12.5% in the 1st quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock worth $222,000 after acquiring an additional 10,000 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in Tilray in the 1st quarter worth about $28,000. RPO LLC bought a new stake in Tilray in the 4th quarter valued at about $28,000. Finally, Private Advisor Group LLC lifted its holdings in Tilray by 7.3% during the first quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock valued at $434,000 after purchasing an additional 12,021 shares during the last quarter. 9.35% of the stock is owned by institutional investors.

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.