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

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) saw some unusual options trading activity on Thursday. Stock investors bought 64,613 call options on the stock. This is an increase of approximately 188% compared to the typical volume of 22,425 call options.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a research report on Saturday. Piper Sandler decreased their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Up 9.4%

Shares of Tilray Brands stock traded up $0.05 during trading on Friday, hitting $0.53. 43,044,202 shares of the stock were exchanged, compared to its average volume of 29,983,997. The stock has a market cap of $534.45 million, a price-to-earnings ratio of -0.51 and a beta of 1.82. The firm's 50-day moving average price is $0.43 and its 200 day moving average price is $0.73. Tilray Brands has a 12-month low of $0.35 and a 12-month high of $2.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.62 and a quick ratio of 1.61.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $185.78 million for the quarter, compared to analysts' expectations of $213.38 million. Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. As a group, analysts forecast that Tilray Brands will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors have recently modified their holdings of TLRY. Tidal Investments LLC lifted its position in shares of Tilray Brands by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Quinn Opportunity Partners LLC raised its stake in Tilray Brands by 108.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after acquiring an additional 840,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in Tilray Brands during the 4th quarter worth $1,029,000. Dimensional Fund Advisors LP raised its stake in Tilray Brands by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after acquiring an additional 769,569 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Tilray Brands during the 4th quarter worth $879,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.