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

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Traders bought 64,613 call options on the stock. This represents an increase of approximately 188% compared to the average daily volume of 22,425 call options.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Lido Advisors LLC bought a new stake in shares of Tilray Brands during the 4th quarter valued at $28,000. Dudley Capital Management LLC bought a new stake in shares of Tilray Brands during the 4th quarter valued at $29,000. Verdence Capital Advisors LLC purchased a new position in Tilray Brands during the fourth quarter valued at $29,000. Brooklyn FI LLC purchased a new position in Tilray Brands during the fourth quarter valued at $36,000. Finally, NewEdge Advisors LLC grew its stake in Tilray Brands by 92.1% during the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after acquiring an additional 13,136 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on TLRY. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Piper Sandler cut their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th.

Tilray Brands Trading Up 9.4%

TLRY stock traded up $0.05 during trading on Friday, reaching $0.53. The company had a trading volume of 43,044,202 shares, compared to its average volume of 29,904,634. Tilray Brands has a 52 week low of $0.35 and a 52 week high of $2.15. The company has a market cap of $534.45 million, a P/E ratio of -0.51 and a beta of 1.82. The business has a 50 day moving average of $0.43 and a 200 day moving average of $0.73. 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 announced its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. The business had revenue of $185.78 million during the quarter, compared to analysts' expectations of $213.38 million. As a group, sell-side analysts forecast that Tilray Brands will post -0.2 earnings per share for the current fiscal 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.