Tilray (NASDAQ:TLRY) Trading Down 2.5%

Tilray Inc (NASDAQ:TLRY)’s share price traded down 2.5% on Friday . The stock traded as low as $1.73 and last traded at $1.74. 4,581,489 shares were traded during mid-day trading, a decline of 82% from the average session volume of 24,963,607 shares. The stock had previously closed at $1.78.

Tilray Stock Down 3.5 %

The stock’s fifty day moving average is $1.82 and its two-hundred day moving average is $1.87. The stock has a market capitalization of $1.45 billion, a P/E ratio of -3.94 and a beta of 2.13. 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 released its earnings results on Monday, July 29th. The company reported ($0.04) earnings per share (EPS) 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 analysts’ expectations of $226.20 million. During the same quarter in the previous year, the company earned ($0.15) EPS. Tilray’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, research analysts predict that Tilray Inc will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its position 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 last quarter. Vanguard Group Inc. grew its position in Tilray by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after purchasing an additional 117,891 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Tilray by 8.7% during the first 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 during the last quarter. Bank of Montreal Can lifted its stake in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares during the period. Finally, Swiss National Bank increased its stake in Tilray by 3.6% during the first quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock valued at $3,683,000 after acquiring an additional 51,700 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.