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

Tilray Inc (NASDAQ:TLRY) was the target of some unusual options trading on Tuesday. Stock traders purchased 210,378 call options on the company. This represents an increase of approximately 266% compared to the typical volume of 57,539 call options.

Tilray Stock Up 39.5 %

Tilray stock opened at $2.47 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.91 billion, a P/E ratio of -5.61 and a beta of 2.36. The firm has a 50 day moving average price of $1.96 and a 200-day moving average price of $1.94. Tilray has a twelve month low of $1.50 and a twelve month high of $3.40.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Tilray

Several hedge funds have recently made changes to their positions in the company. Marathon Trading Investment Management LLC increased its holdings in Tilray by 24.7% in the 3rd quarter. Marathon Trading Investment Management LLC now owns 29,302 shares of the company’s stock worth $70,000 after acquiring an additional 5,802 shares during the last quarter. Signaturefd LLC raised its position in shares of Tilray by 3.3% in the third quarter. Signaturefd LLC now owns 202,408 shares of the company’s stock valued at $484,000 after purchasing an additional 6,452 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Tilray by 2.7% during the 4th quarter. Vontobel Holding Ltd. now owns 278,199 shares of the company’s stock valued at $640,000 after buying an additional 7,362 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Tilray by 179.0% in the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock worth $34,000 after buying an additional 9,453 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Tilray by 14.7% in the 3rd quarter. Victory Capital Management Inc. now owns 76,506 shares of the company’s stock valued at $183,000 after buying an additional 9,790 shares in the last quarter. 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.