Tilray Sees Unusually Large Options Volume (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY) was the target of some unusual options trading on Thursday. Stock traders acquired 147,203 call options on the stock. This is an increase of 274% compared to the average volume of 39,366 call options.

Insider Activity at Tilray

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 acquired 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 $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray during the third quarter worth $26,000. Signature Estate & Investment Advisors LLC bought a new position in Tilray in the 2nd quarter valued at about $29,000. Jeppson Wealth Management LLC bought a new position in Tilray in the 2nd quarter valued at about $33,000. Vanguard Capital Wealth Advisors acquired a new position in Tilray during the 2nd quarter valued at about $34,000. Finally, Vista Capital Partners Inc. bought a new stake in Tilray during the 3rd quarter worth approximately $42,000. 9.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price objective 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 NASDAQ TLRY opened at $1.43 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.29 billion, a PE ratio of -5.30 and a beta of 2.08. The firm has a fifty day simple moving average of $1.43 and a 200 day simple moving average of $1.64. Tilray has a twelve month low of $1.14 and a twelve month high of $2.97.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. Tilray’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts forecast that Tilray will post -0.14 EPS 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.