Tilray (NASDAQ:TLRY) Shares Up 1.2%

Tilray Inc (NASDAQ:TLRY)’s share price shot up 1.2% during mid-day trading on Tuesday . The stock traded as high as $1.74 and last traded at $1.71. 7,442,829 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 24,966,674 shares. The stock had previously closed at $1.69.

Tilray Price Performance

The company has a quick ratio of 1.42, a current ratio of 2.27 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.34 billion, a PE ratio of -3.89 and a beta of 2.13. The firm’s fifty day simple moving average is $1.81 and its 200-day simple moving average is $1.88.

Tilray (NASDAQ:TLRY) last released 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 net margin of 30.26% and a negative return on equity of 2.63%. The company had revenue of $229.90 million for the quarter, compared to analysts’ expectations of $226.20 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, research analysts forecast that Tilray Inc will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in Tilray by 4.4% during the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after buying an additional 9,171 shares during the last quarter. CapWealth Advisors LLC increased its holdings in Tilray by 12.5% during the first quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock valued at $222,000 after buying an additional 10,000 shares during the last quarter. RPO LLC purchased a new stake in Tilray during the fourth quarter valued at approximately $28,000. Private Advisor Group LLC increased its holdings in Tilray by 7.3% during the first quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock valued at $434,000 after buying an additional 12,021 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. purchased a new stake in Tilray during the fourth quarter valued at approximately $29,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.