Tilray Brands (NASDAQ:TLRY) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Tilray Brands experienced a significant increase in trading volume, with over 82 million shares traded in one day, marking a 121% surge from the previous session.
• The company's recent earnings report showed a profit of $0.02 per share, beating estimates, but revenue fell short of expectations at $224.54 million compared to the anticipated $250.41 million.
• CEO Irwin D. Simon bought 165,000 shares at an average price of $0.61, increasing his ownership stake in the company, while institutional investors have shown increasing interest in Tilray Brands.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) saw an uptick in trading volume on Tuesday . 82,046,625 shares changed hands during mid-day trading, an increase of 121% from the previous session's volume of 37,185,953 shares.The stock last traded at $1.00 and had previously closed at $0.92.

Analyst Ratings Changes

A number of research firms have recently commented on TLRY. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Finally, Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Tilray Brands has a consensus rating of "Hold" and a consensus target price of $1.92.

Tilray Brands Stock Up 10.3%

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 firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -0.44 and a beta of 1.85. The stock has a fifty day moving average of $0.53 and a 200-day moving average of $0.61.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.05. The business had revenue of $224.54 million for the quarter, compared to analysts' expectations of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. As a group, sell-side 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 purchased 165,000 shares of the stock in a transaction dated 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 $2,404,396.13. This represents a 4.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC grew its holdings in shares of Tilray Brands by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after buying an additional 889,086 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in 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 in the last quarter. Millennium Management LLC purchased a new position in Tilray Brands in the fourth quarter valued at about $879,000. AQR Capital Management LLC grew its stake in Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock valued at $399,000 after purchasing an additional 575,757 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Tilray Brands by 112.7% in the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock valued at $1,222,000 after purchasing an additional 487,051 shares in the last quarter. 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.

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