Tilray Brands (NASDAQ:TLRY) Shares Up 1.3% - Here's Why

Key Points

• Tilray Brands' shares increased by 1.3%, trading at a price of $0.62, although the trading volume was significantly lower than average.
• Analysts have issued mixed ratings on Tilray, with one "strong sell" and several "neutral" ratings; the average price target stands at $1.92.
• CEO Irwin D. Simon bought 165,000 shares of the company at an average cost of $0.61 per share, increasing his stake in Tilray Brands by 4.37%.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded up 1.3% during trading on Tuesday . The stock traded as high as $0.64 and last traded at $0.62. 11,121,357 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 35,505,875 shares. The stock had previously closed at $0.61.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TLRY. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Piper Sandler lowered their price objective on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Tilray Brands presently has an average rating of "Hold" and a consensus price target of $1.92.

Tilray Brands Trading Up 2.3%

The business has a 50 day simple moving average of $0.51 and a 200 day simple moving average of $0.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The company has a market cap of $626.04 million, a price-to-earnings ratio of -0.27 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, topping 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 return on equity of 6.83% and a negative net margin of 265.69%. As a group, equities analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Activity at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the transaction, the chief executive officer owned 3,941,633 shares of the company's stock, valued at $2,404,396.13. The trade was a 4.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. Lido Advisors LLC purchased a new position in Tilray Brands in the fourth quarter worth about $28,000. Cerity Partners LLC acquired a new position in shares of Tilray Brands during the 1st quarter worth about $31,000. Capital Management Associates Inc raised its position in shares of Tilray Brands by 100.0% during the 1st 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. Fifth Lane Capital LP grew its stake in Tilray Brands by 400.0% during the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands during the 1st quarter worth approximately $33,000. Institutional investors own 9.35% of the company's stock.

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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