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

Key Points

• Investors displayed significant interest in Tilray Brands by purchasing 268,294 call options, marking a 342% increase from the average volume.
• CEO Irwin D. Simon acquired 165,000 shares at $0.61 each, boosting his holdings to approximately 3.94 million shares.
• Analysts have mixed views on Tilray, with some upgrades and a consensus Hold rating, indicating cautious investor sentiment amid a recent share price increase.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors bought 268,294 call options on the company. This represents an increase of approximately 342% compared to the typical volume of 60,643 call options.

Insider Buying and Selling

In related news, CEO Irwin D. Simon bought 165,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the acquisition, the chief executive officer owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cerity Partners LLC bought a new stake in shares of Tilray Brands in the 1st quarter worth about $31,000. Fifth Lane Capital LP raised its stake in Tilray Brands by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after acquiring an additional 40,000 shares during the period. Zuckerman Investment Group LLC acquired a new stake in Tilray Brands during the first quarter worth about $33,000. Capital Management Associates Inc raised its stake in Tilray Brands by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after acquiring an additional 25,380 shares during the period. Finally, Garde Capital Inc. acquired a new stake in Tilray Brands during the first quarter worth about $46,000. Institutional investors own 9.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TLRY shares. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group raised their price objective on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Trading Up 41.3%

Shares of NASDAQ TLRY traded up $0.48 during trading on Monday, hitting $1.63. 164,894,804 shares of the company traded hands, compared to its average volume of 43,456,738. Tilray Brands has a 1 year low of $0.35 and a 1 year high of $1.85. The company has a 50-day moving average price of $1.03 and a 200-day moving average price of $0.68. The firm has a market capitalization of $1.79 billion, a P/E ratio of -0.70 and a beta of 2.01. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.05. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The business had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. On average, equities analysts predict that Tilray Brands will post -0.2 EPS for the current year.

About Tilray Brands

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 Canada.

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