Tilray (NASDAQ:TLRY) Trading Down 0.9%

Shares of Tilray Inc (NASDAQ:TLRY) traded down 0.9% on Wednesday . The company traded as low as $1.65 and last traded at $1.67. 9,949,430 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 25,081,475 shares. The stock had previously closed at $1.68.

Tilray Stock Up 0.3 %

The stock has a market cap of $1.30 billion, a P/E ratio of -3.78 and a beta of 2.13. The company has a current ratio of 2.27, a quick ratio of 1.42 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $1.79 and its 200-day moving average is $1.88.

Tilray (NASDAQ:TLRY) last posted its quarterly 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). The company 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%. Tilray’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned ($0.15) earnings per share. As a group, research analysts anticipate that Tilray Inc will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Several institutional investors have recently bought and sold shares of TLRY. Lazard Asset Management LLC acquired a new stake in Tilray during the first quarter worth about $118,000. Avantax Advisory Services Inc. grew its stake in shares of Tilray by 46.2% during the first quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company’s stock valued at $131,000 after purchasing an additional 16,792 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Tilray in the first quarter valued at approximately $75,000. CIBC Asset Management Inc raised its stake in Tilray by 13.3% during the 2nd quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock worth $1,445,000 after buying an additional 102,316 shares during the period. Finally, Austin Wealth Management LLC acquired a new position in Tilray in the fourth quarter valued at about $115,000. 9.35% of the stock is currently owned by 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.