Tilray Sees Unusually Large Options Volume (NASDAQ:TLRY)

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

Institutional Trading of Tilray

Hedge funds have recently added to or reduced their stakes in the business. Prospect Financial Services LLC acquired a new stake in Tilray during the second quarter valued at $26,000. Ferguson Wellman Capital Management Inc. bought a new position in Tilray during the third quarter valued at about $26,000. Signature Estate & Investment Advisors LLC bought a new position in Tilray during the second quarter valued at about $29,000. Jeppson Wealth Management LLC bought a new stake in shares of Tilray in the 2nd quarter valued at approximately $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in shares of Tilray in the 2nd quarter worth approximately $34,000. Institutional investors own 9.35% of the company’s stock.

Tilray Price Performance

TLRY stock traded up $0.07 on Tuesday, reaching $1.47. 41,795,070 shares of the company’s stock were exchanged, compared to its average volume of 25,521,072. 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 firm has a market cap of $1.33 billion, a PE ratio of -5.22 and a beta of 2.14. Tilray has a twelve month low of $1.36 and a twelve month high of $2.97. The stock has a fifty day moving average of $1.67 and a 200-day moving average of $1.78.

Tilray (NASDAQ:TLRY) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts predict that Tilray will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.