Tilray (NASDAQ:TLRY) Trading Down 0.3% – Time to Sell?

Tilray Inc (NASDAQ:TLRY) shares fell 0.3% during mid-day trading on Friday . The stock traded as low as $1.69 and last traded at $1.70. 6,873,704 shares traded hands during trading, a decline of 73% from the average session volume of 25,149,152 shares. The stock had previously closed at $1.70.

Tilray Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.27 and a quick ratio of 1.42. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -3.84 and a beta of 2.13. The company’s fifty day moving average price is $1.78 and its 200-day moving average price is $1.87.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data 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 net margin of 30.26% and a negative return on equity of 2.63%. The company had revenue of $229.90 million for the quarter, compared to analyst estimates of $226.20 million. During the same quarter last year, the company earned ($0.15) EPS. The business’s revenue was up 24.8% compared to the same quarter last year. On average, research analysts expect that Tilray Inc will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

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