Tilray (NASDAQ:TLRY) Shares Down 0.9%

Tilray Inc (NASDAQ:TLRY)’s share price traded down 0.9% on Wednesday . The stock traded as low as $1.67 and last traded at $1.69. 4,531,783 shares changed hands during trading, a decline of 82% from the average session volume of 25,203,791 shares. The stock had previously closed at $1.70.

Tilray Price Performance

The company’s 50 day simple moving average is $1.82 and its two-hundred day simple moving average is $1.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.27 and a quick ratio of 1.42. The stock has a market capitalization of $1.45 billion, a P/E ratio of -3.83 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last released its quarterly 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 for the quarter, compared to analyst estimates of $226.20 million. Tilray had a negative net margin of 30.26% and a negative return on equity of 2.63%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) earnings per share. As a group, equities analysts expect that Tilray Inc will post -0.12 EPS for the current fiscal year.

Institutional Trading of Tilray

Several hedge funds have recently modified their holdings of TLRY. Simplicity Wealth LLC acquired a new position in Tilray during the 1st quarter worth $28,000. RPO LLC acquired a new position in shares of Tilray during the fourth quarter valued at $28,000. Gainplan LLC bought a new position in Tilray in the fourth quarter valued at about $28,000. Wellington Wealth Strategies LLC. acquired a new stake in Tilray in the fourth quarter worth about $29,000. Finally, HBK Sorce Advisory LLC acquired a new stake in Tilray in the first quarter worth about $37,000. 9.35% of the stock is owned by institutional investors.

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 Nanaimo, Canada.