Tilray Sees Unusually High Options Volume (NASDAQ:TLRY)

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

Insider Activity

In other news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of 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 during the last quarter. Point72 Asset Management L.P. acquired a new stake in Tilray in the 3rd quarter worth approximately $1,348,000. Bank of Montreal Can boosted its stake in Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares in the last quarter. Creative Planning grew its position in Tilray by 36.6% during the 3rd quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after purchasing an additional 38,054 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Tilray by 11.5% during the 2nd 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 and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their price objective 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.

Tilray Trading Up 5.0 %

TLRY opened at $1.48 on Friday. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -5.48 and a beta of 2.09. Tilray has a 12 month low of $1.14 and a 12 month high of $2.97. The stock has a fifty day moving average price of $1.43 and a 200-day moving average price of $1.64.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting 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 during the quarter, compared to analyst estimates of $218.70 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts anticipate that Tilray will post -0.14 earnings per share for the current fiscal 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.