Tilray (NASDAQ:TLRY) Shares Up 2.5%

Tilray Inc (NASDAQ:TLRY) traded up 2.5% on Tuesday . The stock traded as high as $1.85 and last traded at $1.85. 5,212,722 shares traded hands during trading, a decline of 79% from the average session volume of 25,063,506 shares. The stock had previously closed at $1.80.

Tilray Stock Performance

The company has a 50 day moving average of $1.82 and a two-hundred day moving average of $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. The company has a market capitalization of $1.50 billion, a PE ratio of -4.14 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last released its earnings results on Monday, July 29th. The company reported ($0.04) earnings per share (EPS) 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 analysts’ expectations of $226.20 million. Tilray had a negative net margin of 30.26% and a negative return on equity of 2.63%. Tilray’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) earnings per share. As a group, equities research analysts predict that Tilray Inc will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. increased its holdings in shares of Tilray by 54.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 52,067 shares of the company’s stock valued at $86,000 after acquiring an additional 18,423 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Tilray during the 2nd quarter valued at about $65,000. Algert Global LLC purchased a new position in Tilray in the second quarter worth about $130,000. The Manufacturers Life Insurance Company increased its holdings in shares of Tilray by 11.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after purchasing an additional 70,605 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in 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. Hedge funds and other institutional investors 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.