Tilray Brands (NASDAQ:TLRY) Hits New 52-Week High - Time to Buy?

Key Points

• Tilray Brands shares reached a new 52-week high of $2.02 during mid-day trading on Thursday, closing at $1.99, reflecting a significant increase from the previous close of $1.72.
• Wall Street analysts have mixed opinions on Tilray, with two analysts rating it as a Buy, while others hold a Sell or Hold rating, resulting in a consensus rating of "Hold" and a target price of $1.94.
• Insider activity reported the CEO acquiring 165,000 shares at an average price of $0.61 per share, increasing their ownership stake and demonstrating confidence in the company's future performance.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $2.02 and last traded at $1.99, with a volume of 25754895 shares traded. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TLRY. Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Finally, Jefferies Financial Group increased their target price on shares of Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a report on Monday, August 25th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $1.94.

Tilray Brands Stock Up 22.1%

The company's 50-day moving average is $1.19 and its two-hundred day moving average is $0.74. The company has a market cap of $2.31 billion, a P/E ratio of -0.91 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly 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. The firm had revenue of $224.54 million during the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. As a group, equities analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In other news, CEO Irwin D. Simon bought 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The stock was acquired 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 owned 3,941,633 shares of the company's stock, valued at $2,404,396.13. This trade represents a 4.37% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Tilray Brands by 317.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,326 shares of the company's stock worth $221,000 after buying an additional 126,507 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Tilray Brands by 8.0% in the 4th quarter. California State Teachers Retirement System now owns 778,513 shares of the company's stock valued at $1,035,000 after purchasing an additional 57,544 shares in the last quarter. Garde Capital Inc. acquired a new position in Tilray Brands during the first quarter worth about $46,000. Madrona Financial Services LLC grew its position in shares of Tilray Brands by 42.9% in the first quarter. Madrona Financial Services LLC now owns 100,000 shares of the company's stock valued at $66,000 after purchasing an additional 30,000 shares during the last quarter. Finally, KBC Group NV grew its stake in Tilray Brands by 102.6% in the 1st quarter. KBC Group NV now owns 77,657 shares of the company's stock worth $51,000 after acquiring an additional 39,325 shares during the period. Hedge funds and other institutional investors own 9.35% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.