Tilray (NASDAQ:TLRY) Trading Up 1.2%

Tilray Inc (NASDAQ:TLRY)’s stock price shot up 1.2% during trading on Tuesday . The company traded as high as $1.74 and last traded at $1.71. 7,442,829 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 24,966,674 shares. The stock had previously closed at $1.69.

Tilray Stock Performance

The company has a market cap of $1.34 billion, a PE ratio of -3.89 and a beta of 2.13. The business’s 50-day moving average is $1.81 and its 200 day moving average is $1.88. 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 results on Monday, July 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $229.90 million during the quarter, compared to the consensus estimate of $226.20 million. Tilray had a negative return on equity of 2.63% and a negative net margin of 30.26%. Tilray’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS. On average, equities research analysts predict that Tilray Inc will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of large investors have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new stake in Tilray during the first quarter worth about $118,000. Avantax Advisory Services Inc. boosted its stake in Tilray by 46.2% during the first quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company’s stock worth $131,000 after acquiring an additional 16,792 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Tilray in the first quarter worth about $75,000. CIBC Asset Management Inc raised its holdings in Tilray by 13.3% in the second quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock worth $1,445,000 after buying an additional 102,316 shares during the last quarter. Finally, Austin Wealth Management LLC purchased a new position in Tilray in the fourth quarter worth about $115,000. Institutional investors own 9.35% of the company’s stock.

Tilray Company Profile

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.