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

Tilray Inc (NASDAQ:TLRY) was the target of some unusual options trading on Wednesday. Stock traders bought 75,369 call options on the company. This represents an increase of approximately 53% compared to the average volume of 49,231 call options.

Tilray Stock Up 11.5 %

Shares of TLRY traded up $0.12 during mid-day trading on Wednesday, reaching $1.12. The company’s stock had a trading volume of 67,794,576 shares, compared to its average volume of 44,620,473. Tilray has a 1 year low of $0.97 and a 1 year high of $2.97. 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 company has a market cap of $1.05 billion, a price-to-earnings ratio of -3.72 and a beta of 2.07. The business has a fifty day moving average of $1.26 and a 200 day moving average of $1.54.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The company had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Tilray’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Tilray will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other news, CFO Carl A. Merton bought 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. bought a new position in Tilray in the 3rd quarter worth $26,000. Ameritas Advisory Services LLC acquired a new stake in Tilray in the 4th quarter valued at approximately $32,000. Newman Dignan & Sheerar Inc. lifted its holdings in shares of Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after buying an additional 10,000 shares during the last quarter. International Assets Investment Management LLC grew its position in Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after purchasing an additional 18,208 shares during the last quarter. Finally, Vista Capital Partners Inc. acquired a new position in Tilray in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.