Tilray (NASDAQ:TLRY) Trading Down 2.4%

Tilray Inc (NASDAQ:TLRY) dropped 2.4% during mid-day trading on Friday . The stock traded as low as $1.80 and last traded at $1.81. Approximately 5,390,867 shares changed hands during trading, a decline of 79% from the average daily volume of 25,920,676 shares. The stock had previously closed at $1.85.

Tilray Stock Performance

The firm’s fifty day simple moving average is $1.79 and its 200 day simple moving average is $1.89. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -4.10 and a beta of 2.19. 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 issued its quarterly earnings results on Monday, July 29th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Tilray had a negative net margin of 30.26% and a negative return on equity of 2.63%. The firm had revenue of $229.90 million during the quarter, compared to analysts’ expectations of $226.20 million. During the same quarter last year, the company posted ($0.15) EPS. The firm’s revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that Tilray Inc will post -0.12 EPS for the current year.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates lifted its stake in Tilray by 20.6% in the 4th quarter. Raymond James & Associates now owns 95,329 shares of the company’s stock worth $219,000 after acquiring an additional 16,294 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Tilray by 8.2% in the 4th quarter. Arizona State Retirement System now owns 204,148 shares of the company’s stock valued at $470,000 after purchasing an additional 15,449 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Tilray by 179.0% in the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock valued at $34,000 after purchasing an additional 9,453 shares during the period. Allworth Financial LP boosted its holdings in shares of Tilray by 2,141.1% during the fourth quarter. Allworth Financial LP now owns 80,320 shares of the company’s stock worth $185,000 after purchasing an additional 76,736 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Tilray by 61.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 165,558 shares of the company’s stock worth $381,000 after purchasing an additional 62,795 shares during the period. 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.