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

Tilray Inc (NASDAQ:TLRY) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 65,869 call options on the stock. This is an increase of 67% compared to the typical volume of 39,407 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TLRY. Prospect Financial Services LLC purchased a new position in shares of Tilray in the second quarter valued at $26,000. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the 3rd quarter worth about $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the 2nd quarter worth about $29,000. Jeppson Wealth Management LLC purchased a new stake in Tilray during the 2nd quarter worth about $33,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in Tilray during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tilray Price Performance

Shares of TLRY stock traded down $0.03 during mid-day trading on Thursday, reaching $1.41. The stock had a trading volume of 7,151,338 shares, compared to its average volume of 25,452,771. Tilray has a 12-month low of $1.36 and a 12-month high of $2.97. The company has a market cap of $1.27 billion, a P/E ratio of -5.20 and a beta of 2.14. The business has a 50-day simple moving average of $1.66 and a 200 day simple moving average of $1.78. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter last year, the business posted ($0.10) earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that Tilray will post -0.14 earnings per share for the current year.

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.