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

Posted by on Apr 11th, 2023

Tilray Inc (NASDAQ:TLRY – Get Rating) saw some unusual options trading activity on Monday. Investors acquired 84,007 call options on the stock. This is an increase of approximately 72% compared to the average daily volume of 48,723 call options.

Tilray Stock Performance

Shares of TLRY stock opened at $2.74 on Tuesday. Tilray has a 12 month low of $2.28 and a 12 month high of $6.80. The company’s fifty day moving average price is $2.75 and its two-hundred day moving average price is $3.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.91 and a quick ratio of 1.35. The firm has a market capitalization of $1.69 billion, a P/E ratio of -2.61 and a beta of 2.66.

Tilray (NASDAQ:TLRY – Get Rating) last released its quarterly earnings results on Monday, April 10th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($1.85). Tilray had a negative return on equity of 5.10% and a negative net margin of 89.96%. The business had revenue of $145.59 million during the quarter, compared to the consensus estimate of $150.13 million. During the same period in the previous year, the company posted $0.04 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, research analysts anticipate that Tilray will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Alliance Global Partners cut their price objective on Tilray from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday, January 9th. Atb Cap Markets reissued a “sector perform” rating on shares of Tilray in a report on Thursday, February 9th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.72.

Institutional Investors Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in Tilray during the 4th quarter worth $6,586,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tilray by 93.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,380,893 shares of the company’s stock valued at $6,405,000 after buying an additional 1,151,898 shares in the last quarter. Vanguard Group Inc. increased its position in Tilray by 10.1% during the third quarter. Vanguard Group Inc. now owns 2,295,040 shares of the company’s stock worth $6,311,000 after buying an additional 209,892 shares during the last quarter. Swiss National Bank lifted its position in Tilray by 9.7% during the fourth quarter. Swiss National Bank now owns 1,295,138 shares of the company’s stock worth $3,484,000 after acquiring an additional 114,900 shares during the last quarter. Finally, TD Asset Management Inc. boosted its position in shares of Tilray by 21.5% in the third quarter. TD Asset Management Inc. now owns 1,057,634 shares of the company’s stock valued at $3,008,000 after acquiring an additional 187,469 shares during the period. 11.59% of the stock is currently owned by institutional investors and hedge funds.

About Tilray

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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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