Tilray (NASDAQ:TLRY) Trading Down 1.4%

Tilray Inc (NASDAQ:TLRY)’s stock price was down 1.4% during mid-day trading on Tuesday . The stock traded as low as $1.90 and last traded at $1.90. Approximately 3,686,589 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 25,609,648 shares. The stock had previously closed at $1.93.

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.27 and a quick ratio of 1.42. The stock has a 50-day moving average price of $1.80 and a 200-day moving average price of $1.89. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -4.23 and a beta of 2.19.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $229.90 million during the quarter, compared to the consensus estimate of $226.20 million. During the same quarter last year, the company posted ($0.15) EPS. The firm’s revenue was up 24.8% on a year-over-year basis. As a group, analysts forecast that Tilray Inc will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

Several hedge funds have recently bought and sold shares of TLRY. Algert Global LLC bought a new position in shares of Tilray during the second quarter worth approximately $130,000. The Manufacturers Life Insurance Company grew its holdings in Tilray by 11.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock valued at $1,131,000 after buying an additional 70,605 shares in the last quarter. Bank of Montreal Can increased its position in Tilray by 19.6% during 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 during the period. Marathon Trading Investment Management LLC lifted its holdings in shares of Tilray by 52.4% during the second quarter. Marathon Trading Investment Management LLC now owns 76,501 shares of the company’s stock worth $127,000 after buying an additional 26,301 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Tilray in the second quarter valued at about $83,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.