Tilray (NASDAQ:TLRY) Trading 2.4% Higher

Shares of Tilray Inc (NASDAQ:TLRY) shot up 2.4% during mid-day trading on Friday . The company traded as high as $1.93 and last traded at $1.92. 4,531,074 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 25,432,521 shares. The stock had previously closed at $1.87.

Tilray Stock Up 3.7 %

The stock has a market cap of $1.50 billion, a P/E ratio of -4.35 and a beta of 2.19. The firm has a 50 day simple moving average of $1.81 and a two-hundred day simple moving average of $1.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.27.

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). Tilray had a negative return on equity of 2.63% and a negative net margin of 30.26%. The company had revenue of $229.90 million during the quarter, compared to analyst estimates of $226.20 million. During the same period in the previous year, the company earned ($0.15) EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts predict that Tilray Inc will post -0.12 earnings per share for the current year.

Institutional Trading of Tilray

Hedge funds and other institutional investors have recently modified their holdings of the company. Prospect Financial Services LLC acquired a new position in Tilray during the second quarter worth about $26,000. RPO LLC bought a new stake in Tilray during the fourth quarter worth approximately $28,000. Simplicity Wealth LLC acquired a new position in Tilray in the first quarter worth approximately $28,000. Gainplan LLC bought a new position in shares of Tilray in the fourth quarter valued at $28,000. Finally, Wellington Wealth Strategies LLC. acquired a new stake in shares of Tilray during the 4th quarter valued at $29,000. 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.