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

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

Tilray Stock Performance

Shares of NASDAQ TLRY opened at $1.07 on Thursday. Tilray has a 52-week low of $0.97 and a 52-week high of $2.97. The stock has a market capitalization 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 stock’s fifty day simple moving average is $1.25 and its 200 day simple moving average is $1.54.

Tilray (NASDAQ:TLRY) last posted 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). 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 30.95% and a negative return on equity of 4.40%. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Tilray will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on TLRY. Roth Mkm dropped their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group raised their price objective on shares of Tilray from $2.00 to $3.00 and gave the company 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Tilray currently has an average rating of “Hold” and a consensus target price of $2.70.

Insiders Place Their Bets

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray in the 3rd quarter worth approximately $26,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tilray during the fourth quarter worth $32,000. Newman Dignan & Sheerar Inc. boosted its position in Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after purchasing an additional 10,000 shares during the last quarter. International Assets Investment Management LLC grew its stake in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after purchasing an additional 18,208 shares in the last quarter. Finally, Vista Capital Partners Inc. purchased a new position in Tilray in the third quarter valued at about $42,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.