Irwin D. Simon Buys 165,000 Shares of Tilray Brands, Inc. (NASDAQ:TLRY) Stock

Key Points

• Irwin D. Simon, CEO of Tilray Brands, purchased 165,000 shares of the company's stock at an average price of $0.61, increasing his ownership to approximately 3.94 million shares valued at $2.4 million.
• Tilray reported earnings of $0.02 per share for the latest quarter, exceeding expectations of a loss, although revenues fell short of analyst estimates at $224.54 million.
• Analysts maintain a consensus rating of "Hold" for Tilray Brands stock, with a revised average price target now at $1.92, reflecting concerns about the company's performance.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) CEO Irwin D. Simon acquired 165,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the acquisition, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tilray Brands Price Performance

Shares of TLRY stock traded up $0.04 during trading on Wednesday, hitting $0.61. The company had a trading volume of 33,267,491 shares, compared to its average volume of 35,957,543. The company has a quick ratio of 1.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.12. The stock's 50-day moving average is $0.50 and its two-hundred day moving average is $0.64. The stock has a market capitalization of $616.38 million, a price-to-earnings ratio of -0.27 and a beta of 1.82. Tilray Brands, Inc. has a 52 week low of $0.35 and a 52 week high of $2.11.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.05. The business had revenue of $224.54 million during the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative return on equity of 5.91% and a negative net margin of 265.69%. As a group, analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tradewinds Capital Management LLC grew its holdings in shares of Tilray Brands by 177.0% in the second quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company's stock worth $84,000 after purchasing an additional 130,001 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Tilray Brands by 704.5% in the second quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company's stock worth $34,000 after purchasing an additional 71,170 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Tilray Brands by 55.9% in the second quarter. Blair William & Co. IL now owns 239,743 shares of the company's stock worth $99,000 after purchasing an additional 86,010 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Tilray Brands by 12.7% in the second quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company's stock worth $113,000 after purchasing an additional 30,818 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft grew its holdings in shares of Tilray Brands by 11.0% in the second quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company's stock worth $134,000 after purchasing an additional 33,684 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Finally, Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $1.92.

Tilray Brands 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 Canada.

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