Short Interest in Tilray Brands, Inc. (NASDAQ:TLRY) Drops By 20.0%

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totaling 148,940,000 shares, adecreaseof20.0% from the July 31st total of 186,240,000 shares. Based on an average trading volume of 51,940,000 shares, the short-interest ratio is currently 2.9 days. Based on an average trading volume of 51,940,000 shares, the short-interest ratio is currently 2.9 days.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon bought 165,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the acquisition, the chief executive officer owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC grew its position in shares of Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new position in shares of Tilray Brands in the second quarter valued at approximately $939,000. Dimensional Fund Advisors LP grew its position in shares of Tilray Brands by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after purchasing an additional 769,569 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tilray Brands by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after purchasing an additional 286,481 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Tilray Brands by 6.1% in the second quarter. Swiss National Bank now owns 1,928,138 shares of the company's stock valued at $799,000 after purchasing an additional 111,500 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

Analyst Upgrades and Downgrades

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

Tilray Brands Price Performance

Tilray Brands stock opened at $1.12 on Tuesday. Tilray Brands has a 12 month low of $0.35 and a 12 month high of $1.88. The stock's 50 day moving average is $0.86 and its 200-day moving average is $0.64. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -0.48 and a beta of 2.01.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.05. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%.The company had revenue of $224.54 million for the quarter, compared to the consensus estimate of $250.41 million. Equities research analysts expect 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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