Tilray Target of Unusually High Options Trading (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 75,369 call options on the company. This is an increase of approximately 53% compared to the typical daily volume of 49,231 call options.

Tilray Trading Up 7.0 %

TLRY stock opened at $1.07 on Thursday. Tilray has a 52 week low of $0.97 and a 52 week high of $2.97. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -3.57 and a beta of 2.07. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $1.25 and a 200-day simple moving average of $1.54.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Tilray will post -0.2 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Tilray

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tilray in the 3rd quarter valued at about $1,348,000. Creative Planning raised its stake in shares of Tilray by 36.6% in the 3rd quarter. Creative Planning now owns 141,921 shares of the company’s stock valued at $250,000 after purchasing an additional 38,054 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after purchasing an additional 70,605 shares during the last quarter. Finally, Barclays PLC grew its stake in Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares in the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TLRY. Roth Mkm reduced their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Canaccord Genuity Group lifted their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.70.

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.