Tilray (NASDAQ:TLRY) Trading Down 4%

Tilray Inc (NASDAQ:TLRY)’s stock price fell 4% during mid-day trading on Tuesday . The stock traded as low as $1.75 and last traded at $1.79. 18,839,048 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 25,402,305 shares. The stock had previously closed at $1.86.

Tilray Trading Down 2.9 %

The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.86 and a beta of 2.19. The business has a 50 day moving average of $1.82 and a 200 day moving average of $1.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.27 and a quick ratio of 1.42.

Tilray (NASDAQ:TLRY) last posted its earnings results on Monday, July 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm 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 company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) earnings per share. As a group, research analysts predict that Tilray Inc will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Institutional investors have recently modified their holdings of the business. Prospect Financial Services LLC bought a new stake in Tilray during the 2nd quarter worth approximately $26,000. RPO LLC acquired a new stake in shares of Tilray during the fourth quarter worth $28,000. Simplicity Wealth LLC bought a new stake in Tilray in the 1st quarter valued at $28,000. Gainplan LLC bought a new stake in Tilray in the 4th quarter valued at $28,000. Finally, Wellington Wealth Strategies LLC. acquired a new position in Tilray in the 4th quarter worth $29,000. 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 Nanaimo, Canada.