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

Tilray Inc (NASDAQ:TLRY) was the recipient of unusually large options trading on Thursday. Stock traders 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 opened at $7.90 on Friday. The business’s 50-day moving average price is $12.01 and its 200 day moving average price is $19.12. The stock has a market capitalization of $418.30 million, a P/E ratio of -2.48 and a beta of 3.66. Tilray has a 1-year low of $2.43 and a 1-year high of $66.87. The company has a current ratio of 2.80, a quick ratio of 1.85 and a debt-to-equity ratio of 1.56.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.27). The company had revenue of $46.90 million during the quarter, compared to analysts’ expectations of $55.52 million. Tilray had a negative return on equity of 46.96% and a negative net margin of 191.75%. The company’s revenue for the quarter was up 202.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.33) EPS. On average, research analysts predict that Tilray will post -1.29 earnings per share for the current year.

A number of research analysts recently issued reports on the company. Eight Capital lowered Tilray from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Tuesday, March 3rd. Benchmark lowered their target price on Tilray from $28.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Roth Capital lowered their target price on Tilray from to in a report on Monday. Zacks Investment Research raised Tilray from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America lowered Tilray to a “sell” rating in a report on Thursday, March 19th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.41.

In related news, CEO Brendan Kennedy sold 100,000 shares of Tilray stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $16.40, for a total transaction of $1,640,000.00. Following the transaction, the chief executive officer now directly owns 4,666,740 shares of the company’s stock, valued at $76,534,536. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. purchased a new position in Tilray in the 4th quarter worth about $3,447,000. US Bancorp DE increased its stake in Tilray by 13.1% in the 4th quarter. US Bancorp DE now owns 7,914 shares of the company’s stock worth $135,000 after purchasing an additional 915 shares in the last quarter. Penserra Capital Management LLC increased its stake in Tilray by 34.1% in the 4th quarter. Penserra Capital Management LLC now owns 6,600 shares of the company’s stock worth $113,000 after purchasing an additional 1,680 shares in the last quarter. Swiss National Bank grew its stake in Tilray by 4.0% during the 4th quarter. Swiss National Bank now owns 46,500 shares of the company’s stock valued at $797,000 after acquiring an additional 1,800 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Tilray by 27.3% during the 3rd quarter. California Public Employees Retirement System now owns 8,700 shares of the company’s stock valued at $215,000 after acquiring an additional 1,864 shares in the last quarter. 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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