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

Tilray Inc (NASDAQ:TLRY) saw unusually large options trading activity on Monday. Stock traders purchased 50,666 call options on the stock. This is an increase of 60% compared to the typical daily volume of 31,577 call options.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC purchased a new position in Tilray in the first quarter valued at about $118,000. Avantax Advisory Services Inc. grew its stake in shares of Tilray by 46.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company’s stock valued at $131,000 after acquiring an additional 16,792 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Tilray in the first quarter worth $75,000. CIBC Asset Management Inc raised its stake in Tilray by 13.3% during the second quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock valued at $1,445,000 after purchasing an additional 102,316 shares in the last quarter. Finally, Austin Wealth Management LLC bought a new position in Tilray in the 4th quarter worth about $115,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Stock Up 2.0 %

NASDAQ TLRY traded up $0.04 during mid-day trading on Monday, reaching $1.78. 28,617,387 shares of the company’s stock traded hands, compared to its average volume of 25,085,385. Tilray has a 1-year low of $1.50 and a 1-year high of $2.97. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -3.98 and a beta of 2.13. The company has a current ratio of 2.27, a quick ratio of 1.42 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $1.80 and a 200-day simple moving average of $1.88.

Tilray (NASDAQ:TLRY) last released its earnings results on Monday, July 29th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Tilray had a negative return on equity of 2.63% and a negative net margin of 30.26%. The firm had revenue of $229.90 million for the quarter, compared to analyst estimates of $226.20 million. During the same period last year, the business earned ($0.15) earnings per share. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, equities research analysts expect that Tilray will post -0.16 EPS for the current year.

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.