Tilray (NASDAQ:TLRY) Stock Price Down 0.9%

Tilray Inc (NASDAQ:TLRY)’s share price dropped 0.9% on Wednesday . The company traded as low as $1.67 and last traded at $1.69. Approximately 4,531,783 shares traded hands during trading, a decline of 82% from the average daily volume of 25,203,791 shares. The stock had previously closed at $1.70.

Tilray Price Performance

The company has a market capitalization of $1.45 billion, a P/E ratio of -3.83 and a beta of 2.13. The stock’s fifty day simple moving average is $1.82 and its 200-day simple moving average is $1.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.27 and a quick ratio of 1.42.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $229.90 million for the quarter, compared to analyst estimates of $226.20 million. Tilray had a negative return on equity of 2.63% and a negative net margin of 30.26%. Tilray’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) EPS. On average, equities analysts forecast that Tilray Inc will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC increased its holdings in shares of Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after purchasing an additional 10,648,403 shares during the period. Bank of Montreal Can raised its holdings in shares of Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after buying an additional 355,778 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Tilray during the 1st quarter worth approximately $586,000. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 buying an additional 213,834 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in Tilray by 1,077.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock valued at $284,000 after buying an additional 156,524 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

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.