Stock Traders Purchase High Volume of Tilray Call Options (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY) was the recipient of some unusual options trading on Wednesday. Investors bought 75,369 call options on the company. This represents an increase of 53% compared to the typical daily volume of 49,231 call options.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Roth Mkm cut their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group increased their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Tilray presently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 11.5 %

TLRY traded up $0.12 during trading on Wednesday, hitting $1.12. 67,794,576 shares of the company’s stock were exchanged, compared to its average volume of 44,620,473. The stock has a market cap of $1.05 billion, a P/E ratio of -3.72 and a beta of 2.07. The business’s 50 day moving average is $1.26 and its two-hundred day moving average is $1.54. Tilray has a fifty-two week low of $0.97 and a fifty-two week 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.

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

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after acquiring an additional 7,406 shares during the period. State Street Corp raised its position in shares of Tilray by 4.7% in the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after buying an additional 88,079 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tilray by 6.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after buying an additional 107,530 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Tilray by 2.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after acquiring an additional 37,300 shares during the last quarter. 9.35% of the stock is owned by institutional investors.

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.