Tilray Brands (NASDAQ:TLRY) Sees Large Volume Increase - Still a Buy?

Key Points

• Tilray Brands experienced a significant increase in trading volume, with over 55 million shares exchanged, a rise of 22% compared to the previous session.
• Analysts have mixed opinions on Tilray's stock, with Jefferies upgrading it to a buy rating and increasing the price target, while Wall Street Zen downgraded it to a strong sell.
• CEO Irwin D. Simon acquired 165,000 shares of Tilray stock at $0.61 each, increasing his company ownership, amidst overall positivity from some institutional investors.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares saw strong trading volume on Thursday . 55,369,424 shares changed hands during trading, an increase of 22% from the previous session's volume of 45,517,941 shares.The stock last traded at $1.66 and had previously closed at $1.66.

Analysts Set New Price Targets

Several research firms have recently weighed in on TLRY. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Finally, Jefferies Financial Group lifted 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 and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $1.94.

Tilray Brands Stock Performance

The stock's 50-day moving average price is $1.09 and its 200-day moving average price is $0.71. 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 $1.79 billion, a P/E ratio of -0.70 and a beta of 1.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $250.41 million. As a group, equities analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of Tilray Brands stock in a transaction dated 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 transaction, the chief executive officer owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. J.W. Cole Advisors Inc. grew its position in Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock valued at $30,000 after buying an additional 48,177 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Tilray Brands in the 1st quarter worth approximately $31,000. Capital Management Associates Inc boosted its holdings in shares of Tilray Brands by 100.0% in the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after acquiring an additional 25,380 shares in the last quarter. Fifth Lane Capital LP increased its stake in shares of Tilray Brands by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after acquiring an additional 40,000 shares during the period. Finally, Zuckerman Investment Group LLC bought a new stake in Tilray Brands during the first quarter worth approximately $33,000. 9.35% of the stock is currently owned by institutional investors.

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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