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

Tilray Inc (NASDAQ:TLRY - Get Free Report) was the recipient of some unusual options trading on Wednesday. Investors purchased 162,174 call options on the company. This represents an increase of approximately 158% compared to the average daily volume of 62,816 call options.

Hedge Funds Weigh In On Tilray

Large investors have recently bought and sold shares of the business. Clear Street Markets LLC purchased a new position in Tilray during the 3rd quarter worth $25,000. Gainplan LLC acquired a new stake in shares of Tilray during the fourth quarter valued at $28,000. Simplicity Wealth LLC acquired a new position in shares of Tilray in the first quarter valued at approximately $28,000. RPO LLC purchased a new position in shares of Tilray during the fourth quarter valued at approximately $28,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in Tilray during the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

Tilray Trading Down 1.0 %

NASDAQ TLRY traded down $0.02 during trading hours on Wednesday, reaching $2.07. The company had a trading volume of 18,601,096 shares, compared to its average volume of 30,746,867. Tilray has a 1-year low of $1.50 and a 1-year high of $3.40. The stock has a market capitalization of $1.60 billion, a P/E ratio of -4.70 and a beta of 2.36. The stock has a 50-day moving average of $2.02 and a 200 day moving average of $1.95. The company has a current ratio of 1.92, a quick ratio of 1.18 and a debt-to-equity ratio of 0.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group decreased their target price on Tilray from $4.25 to $4.00 and set a "buy" rating for the company in a research report on Wednesday, April 10th. 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 report on Friday, April 5th. Finally, CIBC reduced their price target on shares of Tilray from $2.25 to $2.00 and set a "neutral" rating for the company in a report on Wednesday, April 10th.

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.