Investors Buy Large Volume of Call Options on Tilray (NASDAQ:TLRY)

Tilray Inc (NASDAQ:TLRY - Get Free Report) saw unusually large options trading on Wednesday. Investors purchased 75,369 call options on the company. This is an increase of 53% compared to the average daily volume of 49,231 call options.

Insiders Place Their Bets

In related news, CFO Carl A. Merton purchased 26,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were purchased 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 directly owns 26,000 shares of the company's stock, valued at approximately $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. purchased a new position in Tilray in the 3rd quarter valued at about $26,000. Verdence Capital Advisors LLC acquired a new stake in Tilray in the fourth quarter valued at $29,000. Ameritas Advisory Services LLC bought a new position in Tilray during the 4th quarter valued at $32,000. Newman Dignan & Sheerar Inc. grew its holdings in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after acquiring an additional 10,000 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock worth $42,000 after acquiring an additional 18,208 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on TLRY shares. Roth Mkm cut their price target 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. Canaccord Genuity Group increased their target price on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $2.70.

Tilray Trading Down 5.7 %

NASDAQ:TLRY traded down $0.06 on Friday, hitting $1.00. 66,104,744 shares of the stock were exchanged, compared to its average volume of 44,451,032. Tilray has a fifty-two week low of $0.97 and a fifty-two week high of $2.97. The stock has a fifty day moving average of $1.24 and a 200-day moving average of $1.53. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market cap of $937.66 million, a PE ratio of -3.33 and a beta of 2.07.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $210.90 million for the quarter, compared to analysts' expectations of $216.34 million. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts expect that Tilray will post -0.2 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.