shares of Tilray, Inc. (NASDAQ:TLRY) reached at $17.18 price level during last trade its distance from 20 days simple moving average was 33.91%, and its distance from 50 days simple moving average was 72.80% while it has a distance of 117.78% from the 200 days simple moving average.
Shares of Tilray Inc. surged 3.6% in premarket trading Tuesday, after the Canada-based cannabis company said it has been selected by France’s National Agency for the Safety of Medicines and Health Products (ANSM) to provide medical cannabis products for experimentation. Tilray said it will supply the medical cannabis, starting in the first quarter of 2021, for the duration of the French experiment, which is expected to last for 18 to 24 months. The cannabis will be exported to France from Tilray’s facility in Portugal. “Today’s announcement marks another milestone for Tilray as we expand operations in Europe,” said Tilray Chief Executive Brendan Kennedy. “We are proud to be able to offer access to a variety of high-quality, pharmaceutical-grade medical cannabis products to the ANSM while supporting patients in need in France.” Tilray’s stock has soared 193.3% over the past three months through Monday, while the ETFMG Alternative Harvest ETF has rallied 68.5% and the S&P 500 has gained 13.4%.
The stock has a market cap of $2.28B with 129.10M shares outstanding, of which the float was 66.51M shares. Analysts consider this stock active, since it switched Trading volume reached 26,222,820 shares as compared to its average volume of 27.18M shares.
The Average Daily Trading Volume (ADTV) demonstrates trading activity related to the liquidity of the security. When Ave Volume tends to increase, it shows enhanced liquidity.
But when Ave Volume is lower, the security will tend to be cheap as people are not as keen to purchase it. Hence, it might have an effect on the worth of the security. TLRY’s relative volume was 0.97.
Relative volume is a great indicator to keep a close eye on, but like most indicators it works best in conjunction with other indicators and on different time frames. Higher relative volume you will have more liquidity in the stock which will tighten spreads and allow you to trade with more size without a ton of slippage.
Tilray, Inc. has an average true range (ATR) of 1.71. Other technical indicators are worth considering in assessing the prospects for EQT. TLRY’s price to sales ratio for trailing twelve months was 11.36 and price to book ratio for most recent quarter was 11.85, whereas price to cash per share for the most recent quarter was 0.
The Company’s price to free cash flow for trailing twelve months was 0. Its quick ratio for most recent quarter was 1.60. Analysts mean recommendation for the stock was 3.10. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
Tilray, Inc.‘s shares owned by insiders remained 7.80%, whereas shares owned by institutional owners are 16.30%.
Meanwhile, TLRY traded under umbrella of Healthcare sector, the stock was traded -23.99% ahead of its 52-week high and 607.20% beyond its 52-week low. So, both the price and 52-week high indicators would give you a clear-cut picture to evaluate the price direction.