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

Tilray Inc (NASDAQ:TLRY) was the target of unusually large options trading activity on Tuesday. Traders acquired 210,378 call options on the company. This is an increase of 266% compared to the typical daily volume of 57,539 call options.

Tilray Trading Down 18.2 %

Tilray stock opened at $2.02 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.18. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -4.59 and a beta of 2.36. Tilray has a one year low of $1.50 and a one year high of $3.40. The company’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $1.94.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TLRY shares. Canaccord Genuity Group dropped their price target on shares of Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. CIBC lowered their target price on shares of Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. Finally, Alliance Global Partners increased their target price on shares of Tilray from $2.25 to $2.75 and gave the stock a “neutral” rating in a research report on Friday, April 5th.

Institutional Investors Weigh In On Tilray

Hedge funds have recently bought and sold shares of the company. Clear Street Markets LLC bought a new stake in Tilray during the third quarter valued at about $25,000. Simplicity Wealth LLC bought a new stake in shares of Tilray in the first quarter valued at about $28,000. RPO LLC bought a new stake in shares of Tilray in the fourth quarter valued at about $28,000. Lake Street Financial LLC bought a new stake in shares of Tilray in the third quarter valued at about $28,000. Finally, Great Valley Advisor Group Inc. bought a new stake in shares of Tilray in the third quarter valued at about $29,000. 9.35% of the stock is currently owned by institutional investors.

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 Nanaimo, Canada.