Tilray (NASDAQ:TLRY) Shares Down 1.2%

Tilray Inc (NASDAQ:TLRY)’s share price dropped 1.2% during trading on Wednesday . The stock traded as low as $1.70 and last traded at $1.70. Approximately 5,578,038 shares traded hands during trading, a decline of 78% from the average daily volume of 25,032,898 shares. The stock had previously closed at $1.72.

Tilray Trading Down 2.0 %

The firm has a 50-day moving average of $1.81 and a 200-day moving average of $1.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.27. The firm has a market capitalization of $1.42 billion, a P/E ratio of -3.86 and a beta of 2.13.

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). The business had revenue of $229.90 million during the quarter, compared to analysts’ expectations of $226.20 million. Tilray had a negative return on equity of 2.63% and a negative net margin of 30.26%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) EPS. On average, equities research analysts anticipate that Tilray Inc will post -0.16 EPS for the current fiscal year.

Institutional Trading of Tilray

Large investors have recently modified their holdings of the company. Wellington Wealth Strategies LLC. purchased a new position in Tilray during the fourth quarter valued at $29,000. HBK Sorce Advisory LLC bought a new stake in Tilray during the first quarter worth approximately $37,000. Prospect Financial Services LLC bought a new stake in Tilray during the second quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC bought a new stake in Tilray during the second quarter worth approximately $29,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of Tilray during the fourth quarter valued at approximately $43,000. 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.