Tilray Brands (NASDAQ:TLRY) Shares Gap Up After Analyst Upgrade

Key Points

• Tilray Brands shares experienced a significant increase following an upgrade from Jefferies Financial Group, which raised the price target from $1.50 to $2.00, resulting in the stock opening at $1.25 after closing at $1.15.
• Despite the upgrade, Tilray has received mixed ratings from several brokerages, with Wall Street Zen issuing a "strong sell" rating, while others maintain a "buy" or "hold" status.
• CEO Irwin D. Simon acquired 165,000 shares in a transaction worth over $100,000, increasing his holding by 4.37%, signaling confidence in the company's future performance.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price gapped up prior to trading on Monday after Jefferies Financial Group raised their price target on the stock from $1.50 to $2.00. The stock had previously closed at $1.15, but opened at $1.25. Jefferies Financial Group currently has a buy rating on the stock. Tilray Brands shares last traded at $1.38, with a volume of 53,551,371 shares traded.

Several other brokerages have also recently commented on TLRY. Wall Street Zen cut Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $1.94.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon bought 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were purchased 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 in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC increased its position in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. bought a new position in shares of Tilray Brands during the 2nd quarter worth approximately $939,000. Dimensional Fund Advisors LP boosted its stake in shares of Tilray Brands by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after acquiring an additional 769,569 shares during the period. Millennium Management LLC bought a new position in shares of Tilray Brands during the 4th quarter worth approximately $879,000. Finally, AQR Capital Management LLC boosted its stake in Tilray Brands by 1,839.7% in the 1st 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 during the period. Institutional investors and hedge funds own 9.35% of the company's stock.

Tilray Brands Price Performance

The company has a 50 day moving average of $0.66 and a 200-day moving average of $0.61. The firm has a market capitalization of $1.46 billion, a P/E ratio of -0.59 and a beta of 1.85. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20.

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

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