Tilray (NASDAQ:TLRY) Shares Up 6.2%

Tilray Inc (NASDAQ:TLRY)’s share price was up 6.2% on Monday . The company traded as high as $1.73 and last traded at $1.72. Approximately 9,731,177 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 25,240,365 shares. The stock had previously closed at $1.62.

Tilray Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.27. The stock’s 50 day simple moving average is $1.82 and its 200 day simple moving average is $1.87. The firm 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 issued its 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). Tilray had a negative return on equity of 2.63% and a negative net margin of 30.26%. The business had revenue of $229.90 million for the quarter, compared to analysts’ expectations of $226.20 million. During the same period last year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, analysts expect that Tilray Inc will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Tidal Investments LLC lifted its stake in shares of Tilray by 36,687.0% in the first quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after purchasing an additional 10,648,403 shares during the period. Vanguard Group Inc. increased its stake in Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock valued at $8,707,000 after purchasing an additional 117,891 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tilray by 8.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after acquiring an additional 213,834 shares during the last quarter. Bank of Montreal Can lifted its holdings in Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares during the period. Finally, Swiss National Bank lifted its holdings in Tilray by 3.6% in the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock valued at $3,683,000 after acquiring an additional 51,700 shares during the last quarter. Institutional investors and hedge funds 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.