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

Tilray Inc (NASDAQ:TLRY) was the recipient of some unusual options trading on Friday. Investors acquired 72,984 call options on the stock. This represents an increase of approximately 61% compared to the average daily volume of 45,257 call options.

Insider Activity at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The stock was bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after acquiring an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Tilray during the third quarter worth about $1,348,000. Bank of Montreal Can lifted its holdings in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares in the last quarter. Creative Planning lifted its holdings in shares of Tilray by 36.6% in the third quarter. Creative Planning now owns 141,921 shares of the company’s stock valued at $250,000 after purchasing an additional 38,054 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Tilray by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock valued at $1,131,000 after purchasing an additional 70,605 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Tilray Stock Down 5.5 %

NASDAQ:TLRY opened at $1.37 on Friday. Tilray has a 12-month low of $1.14 and a 12-month high of $2.97. 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 capitalization of $1.24 billion, a P/E ratio of -5.07 and a beta of 2.08. The stock’s fifty day simple moving average is $1.38 and its 200-day simple moving average is $1.62.

Tilray (NASDAQ:TLRY) last posted its quarterly 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 return on equity of 2.00% and a negative net margin of 26.79%. The business had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same period last year, the company earned ($0.10) EPS. The firm’s revenue was up 13.0% on a year-over-year basis. Equities research analysts expect that Tilray will post -0.14 earnings per share for the current year.

Tilray Company Profile

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.