Tilray Brands (NASDAQ:TLRY) Shares Gap Up - Should You Buy?

Key Points

• Tilray Brands' shares opened at $0.79 after previously closing at $0.65, with significant trading volume of over 43 million shares.
• Analysts' consensus rating on Tilray Brands is currently a "Hold" with an average target price of $1.92, amidst mixed ratings from various brokerages.
• The company reported earnings that exceeded expectations, with an EPS of $0.02, but revenue fell short at $224.54 million, compared to predictions of $250.41 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $0.65, but opened at $0.79. Tilray Brands shares last traded at $0.76, with a volume of 43,877,520 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TLRY. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Finally, Wall Street Zen cut Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $1.92.

Tilray Brands Stock Performance

The stock has a fifty day simple moving average of $0.52 and a two-hundred day simple moving average of $0.61. The stock has a market cap of $914.54 million, a price-to-earnings ratio of -0.36 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly 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 analysts' expectations of $250.41 million. Analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon bought 165,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $0.61 per share, with a total value of $100,650.00. Following the transaction, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Tilray Brands by 54.8% in 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Tilray Brands by 112.7% in the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock valued at $1,222,000 after buying an additional 487,051 shares during the period. Millennium Management LLC acquired a new stake in shares of Tilray Brands in the 4th quarter valued at about $879,000. Raymond James Financial Inc. acquired a new stake in shares of Tilray Brands in the 4th quarter valued at about $255,000. Finally, Tidal Investments LLC grew its stake in shares of Tilray Brands by 9.2% in the 4th 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 during the period. 9.35% of the stock is 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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