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

Tilray Inc (NASDAQ:TLRY) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 67,046 call options on the company. This represents an increase of approximately 88% compared to the average volume of 35,633 call options.

Tilray Trading Up 7.6 %

NASDAQ:TLRY traded up $0.12 on Tuesday, reaching $1.70. The company’s stock had a trading volume of 34,645,164 shares, compared to its average volume of 25,039,104. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -5.93 and a beta of 2.13. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. Tilray has a 12-month low of $1.45 and a 12-month high of $2.97. The stock has a 50 day moving average price of $1.73 and a 200 day moving average price of $1.81.

Tilray (NASDAQ:TLRY) last announced 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 net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. During the same quarter last year, the firm posted ($0.10) earnings per share. Tilray’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts anticipate that Tilray will post -0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Prospect Financial Services LLC purchased a new stake in shares of Tilray during the second quarter worth $26,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Tilray in the 2nd quarter valued at about $29,000. Jeppson Wealth Management LLC purchased a new stake in shares of Tilray during the 2nd quarter worth approximately $33,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Tilray in the 2nd quarter valued at $34,000. Finally, HBK Sorce Advisory LLC purchased a new stake in Tilray in the first quarter valued at $37,000. 9.35% 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 Canada.