Tilray (NASDAQ:TLRY) Sees Large Volume Increase

Tilray Inc (NASDAQ:TLRY) shares saw strong trading volume on Tuesday . 9,383,623 shares changed hands during mid-day trading, a decline of 63% from the previous session’s volume of 25,362,785 shares.The stock last traded at $1.77 and had previously closed at $1.86.

Tilray Stock Performance

The stock has a 50 day moving average of $1.82 and a 200 day moving average of $1.88. 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 company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.86 and a beta of 2.19.

Tilray (NASDAQ:TLRY) last issued its earnings results on Monday, July 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $229.90 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. As a group, analysts predict that Tilray Inc will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently added to or reduced their stakes in TLRY. Tidal Investments LLC increased its holdings in Tilray by 36,687.0% in the first 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 in the last quarter. Bank of Montreal Can increased its holdings in Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares in the last quarter. Virtu Financial LLC bought a new stake in Tilray in the first quarter worth approximately $586,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Tilray by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after purchasing an additional 213,834 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of Tilray by 1,077.2% during the second quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock valued at $284,000 after acquiring an additional 156,524 shares in the last quarter. 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.