Tilray Brands (NASDAQ:TLRY) Shares Gap Up - Here's Why

Key Points

• Tilray Brands' stock price jumped from $1.15 to $1.36 before opening on Monday, reaching $1.64 with significant trading volume of over 103 million shares.
• Jefferies Financial Group upgraded Tilray Brands to a "buy" rating, raising its target price from $1.50 to $2.00, while Wall Street Zen issued a "strong sell" rating.
• CEO Irwin D. Simon purchased 165,000 shares of Tilray at $0.61 each, increasing his ownership stake in the company, which now holds a market cap of $1.88 billion.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $1.15, but opened at $1.36. Tilray Brands shares last traded at $1.64, with a volume of 103,622,605 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Jefferies Financial Group raised their target price on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Tilray Brands currently has an average rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Stock Up 48.3%

The company has a market cap of $1.88 billion, a PE ratio of -0.74 and a beta of 2.01. The business has a 50-day simple moving average of $1.03 and a 200-day simple moving average of $0.68. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly 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 company had revenue of $224.54 million for 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%. Equities research analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $0.61 per share, with a total value of $100,650.00. Following the completion of the purchase, the chief executive officer directly owned 3,941,633 shares in the company, valued at $2,404,396.13. The trade was 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 link. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. raised its position in shares of Tilray Brands by 8.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 300,707 shares of the company's stock valued at $125,000 after purchasing an additional 24,375 shares in the last quarter. Capital Management Associates Inc lifted its stake in Tilray Brands by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after purchasing an additional 25,380 shares during the last quarter. Deutsche Bank AG lifted its stake in Tilray Brands by 62.1% during the fourth quarter. Deutsche Bank AG now owns 75,840 shares of the company's stock worth $101,000 after purchasing an additional 29,054 shares during the last quarter. Madrona Financial Services LLC lifted its stake in Tilray Brands by 42.9% during the first quarter. Madrona Financial Services LLC now owns 100,000 shares of the company's stock worth $66,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Tilray Brands by 12.7% in the second quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company's stock valued at $113,000 after buying an additional 30,818 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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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