Investors Buy High Volume of Call Options on Tilray (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY) was the target of unusually large options trading activity on Friday. Traders purchased 72,984 call options on the stock. This represents an increase of 61% compared to the typical daily volume of 45,257 call options.

Insiders Place Their Bets

In related news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Tilray during the 3rd quarter valued at approximately $1,348,000. 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 acquiring an additional 355,778 shares in the last quarter. XTX Topco Ltd raised its stake in Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after acquiring an additional 257,641 shares during the period. Finally, Barclays PLC lifted its holdings in Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Roth Mkm lowered their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Tilray Trading Down 10.2 %

NASDAQ TLRY opened at $1.23 on Friday. Tilray has a 12 month low of $1.14 and a 12 month high of $2.97. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $1.37 and its 200-day moving average price is $1.62. The stock has a market cap of $1.11 billion, a P/E ratio of -4.56 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Tilray will post -0.14 EPS for the current fiscal year.

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.