Tilray (NASDAQ:TLRY) Trading Down 0%

Tilray Inc (NASDAQ:TLRY) shares traded down 0% during mid-day trading on Thursday . The company traded as low as $1.70 and last traded at $1.72. 6,963,217 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 25,180,400 shares. The stock had previously closed at $1.72.

Tilray Price Performance

The stock’s 50-day moving average is $1.82 and its 200 day moving average is $1.87. 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 stock has a market capitalization of $1.47 billion, a PE ratio of -3.95 and a beta of 2.13.

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 the consensus estimate of ($0.02) by ($0.02). The company had revenue of $229.90 million during the quarter, compared to analyst estimates of $226.20 million. Tilray had a negative return on equity of 2.63% and a negative net margin of 30.26%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, equities analysts predict that Tilray Inc will post -0.15 earnings per share for the current year.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. grew its position in shares of Tilray by 54.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 52,067 shares of the company’s stock worth $86,000 after buying an additional 18,423 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Tilray in the second quarter valued at about $65,000. Algert Global LLC bought a new position in shares of Tilray during the 2nd quarter worth approximately $130,000. The Manufacturers Life Insurance Company grew its position in Tilray by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock valued at $1,131,000 after purchasing an additional 70,605 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after acquiring an additional 355,778 shares during the last quarter. Institutional investors and hedge funds 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 Nanaimo, Canada.