Tilray Brands (NASDAQ:TLRY) Sets New 12-Month High - What's Next?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $1.86 and last traded at $1.85, with a volume of 371299239 shares traded. The stock had previously closed at $1.15.

Analyst Upgrades and Downgrades

Several brokerages have commented on TLRY. Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. 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 research report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Stock Up 60.9%

The company has a market capitalization of $2.04 billion, a P/E ratio of -0.80 and a beta of 2.01. 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 stock's fifty day moving average is $1.05 and its 200 day moving average is $0.69.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.05. The business had revenue of $224.54 million during the quarter, compared to analysts' expectations of $250.41 million. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. Research analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Irwin D. Simon acquired 165,000 shares of the firm's 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 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TLRY. J.W. Cole Advisors Inc. raised its holdings 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 worth $30,000 after purchasing an additional 48,177 shares in the last quarter. Cerity Partners LLC purchased a new position in Tilray Brands in the first quarter worth about $31,000. Capital Management Associates Inc raised its holdings in Tilray Brands by 100.0% in the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after buying an additional 25,380 shares during the last quarter. Fifth Lane Capital LP raised its holdings in Tilray Brands by 400.0% in the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after buying an additional 40,000 shares during the last quarter. Finally, Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands during the first quarter valued at approximately $33,000. 9.35% of the stock is currently owned by 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.

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