Tilray (NASDAQ:TLRY) Trading 1.5% Higher

Tilray Inc (NASDAQ:TLRY)’s stock price shot up 1.5% during mid-day trading on Thursday . The stock traded as high as $1.70 and last traded at $1.69. 4,121,345 shares traded hands during trading, a decline of 84% from the average session volume of 25,267,654 shares. The stock had previously closed at $1.66.

Tilray Price Performance

The company has a 50 day moving average price of $1.82 and a 200-day moving average price 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 cap of $1.37 billion, a price-to-earnings ratio of -3.68 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $226.20 million. During the same period last year, the company posted ($0.15) EPS. The business’s revenue was up 24.8% compared to the same quarter last year. As a group, equities research analysts predict that Tilray Inc will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Prospect Financial Services LLC purchased a new stake in shares of Tilray in the 2nd quarter valued at about $26,000. RPO LLC purchased a new position in shares of Tilray during the 4th quarter worth approximately $28,000. Simplicity Wealth LLC bought a new position in Tilray in the first quarter worth $28,000. Gainplan LLC bought a new stake in shares of Tilray in the 4th quarter worth approximately $28,000. Finally, Wellington Wealth Strategies LLC. purchased a new stake in shares of Tilray in the fourth quarter worth $29,000. 9.35% of the stock is currently owned by hedge funds and other 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.