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

Shares of Tilray Inc (NASDAQ:TLRY) dropped 0.3% on Thursday . The stock traded as low as $1.66 and last traded at $1.68. Approximately 4,322,725 shares traded hands during trading, a decline of 83% from the average daily volume of 25,068,988 shares. The stock had previously closed at $1.68.

Tilray Trading Down 0.6 %

The company has a fifty day simple moving average of $1.78 and a two-hundred day simple moving average of $1.87. 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 stock has a market capitalization of $1.31 billion, a P/E ratio of -3.84 and a beta of 2.13.

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 business had revenue of $229.90 million for 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%. The business’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. On average, sell-side analysts expect that Tilray Inc will post -0.16 earnings per share for the current year.

Institutional Trading of Tilray

A number of institutional investors have recently modified their holdings of TLRY. Tidal Investments LLC lifted its holdings 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 in the last quarter. Bank of Montreal Can lifted its holdings in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Tilray in the first quarter valued at about $586,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tilray by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock valued at $6,699,000 after purchasing an additional 213,834 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Tilray by 1,077.2% in the second quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock valued at $284,000 after purchasing an additional 156,524 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

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 Canada.