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

Tilray Inc (NASDAQ:TLRY) was the recipient of some unusual options trading activity on Thursday. Investors purchased 106,708 call options on the company. This is an increase of 180% compared to the average volume of 38,110 call options.

Shares of TLRY stock traded up $3.58 during midday trading on Thursday, hitting $8.62. 46,572,487 shares of the company were exchanged, compared to its average volume of 7,157,240. The firm has a market capitalization of $418.30 million, a P/E ratio of -2.71 and a beta of 3.66. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.85 and a current ratio of 2.80. The firm’s 50 day moving average price is $12.01 and its two-hundred day moving average price is $19.12. Tilray has a 52 week low of $2.43 and a 52 week high of $68.59.

Tilray (NASDAQ:TLRY) last announced its earnings results on Monday, March 2nd. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.27). Tilray had a negative return on equity of 46.96% and a negative net margin of 191.75%. The company had revenue of $46.90 million for the quarter, compared to the consensus estimate of $55.52 million. During the same period in the previous year, the firm posted ($0.33) EPS. The business’s quarterly revenue was up 202.6% on a year-over-year basis. Analysts expect that Tilray will post -1.29 EPS for the current year.

TLRY has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $17.00 price objective on shares of Tilray in a report on Tuesday, March 3rd. Zacks Investment Research upgraded shares of Tilray from a “sell” rating to a “hold” rating in a report on Tuesday. Benchmark dropped their price objective on shares of Tilray from $28.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Stifel Nicolaus dropped their price objective on shares of Tilray from $18.00 to $14.50 and set a “hold” rating on the stock in a report on Tuesday, March 3rd. Finally, Cantor Fitzgerald restated a “hold” rating and set a $10.00 price objective on shares of Tilray in a report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $27.41.

In other Tilray news, CEO Brendan Kennedy sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $16.28, for a total value of $1,628,000.00. Following the transaction, the chief executive officer now directly owns 4,696,333 shares of the company’s stock, valued at $76,456,301.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TLRY. Verus Capital Partners LLC bought a new position in shares of Tilray in the fourth quarter valued at approximately $35,000. Tower Research Capital LLC TRC boosted its position in shares of Tilray by 710.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,587 shares of the company’s stock valued at $79,000 after acquiring an additional 4,021 shares during the period. FinTrust Capital Advisors LLC boosted its position in shares of Tilray by 1,000.0% in the fourth quarter. FinTrust Capital Advisors LLC now owns 5,500 shares of the company’s stock valued at $94,000 after acquiring an additional 5,000 shares during the period. Penserra Capital Management LLC boosted its position in shares of Tilray by 34.1% in the fourth quarter. Penserra Capital Management LLC now owns 6,600 shares of the company’s stock valued at $113,000 after acquiring an additional 1,680 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Tilray in the fourth quarter valued at approximately $129,000. 10.18% of the stock is currently owned by hedge funds and other 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 Nanaimo, Canada.

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