Tilray (NASDAQ:TLRY) Stock Price Down 0.3% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) traded down 0.3% during trading on Friday . The stock traded as low as $1.69 and last traded at $1.70. 6,873,704 shares were traded during trading, a decline of 73% from the average session volume of 25,149,152 shares. The stock had previously closed at $1.70.

Tilray Stock Down 0.3 %

The company’s 50-day moving average is $1.79 and its 200 day moving average is $1.88. The company has a market capitalization of $1.31 billion, a PE ratio of -3.85 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.27.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.04) EPS 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 firm had revenue of $229.90 million for the quarter, compared to analysts’ expectations of $226.20 million. During the same period last year, the company posted ($0.15) earnings per share. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, analysts anticipate that Tilray Inc will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently bought and sold shares of TLRY. TD Asset Management Inc lifted its stake in Tilray by 3.2% during the 4th quarter. TD Asset Management Inc now owns 1,242,538 shares of the company’s stock valued at $2,883,000 after acquiring an additional 38,104 shares during the period. CIBC Asset Management Inc lifted its stake in Tilray by 3.7% during the 4th quarter. CIBC Asset Management Inc now owns 672,586 shares of the company’s stock valued at $1,558,000 after acquiring an additional 23,786 shares during the period. Wellington Wealth Strategies LLC. bought a new position in Tilray during the 4th quarter valued at about $29,000. Austin Wealth Management LLC bought a new position in Tilray during the 4th quarter valued at about $115,000. Finally, HighPoint Advisor Group LLC bought a new position in Tilray during the 4th quarter valued at about $43,000. Institutional investors own 9.35% of the company’s stock.

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 Canada.