Tilray Brands (NASDAQ:TLRY) Shares Up 1.3% - Time to Buy?

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%.

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 were traded 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

TLRY has been the topic of several recent research reports. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Finally, Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Tilray Brands has a consensus rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Up 2.4%

The firm's fifty day simple moving average is $0.52 and its 200 day simple moving average is $0.62. The company has a market cap of $670.33 million, a price-to-earnings ratio of -0.29 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 issued its earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.05. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The firm had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. Sell-side analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $0.61 per share, with a total value of $100,650.00. Following the transaction, the chief executive officer owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Tilray Brands during the 4th quarter worth approximately $255,000. JPMorgan Chase & Co. boosted its holdings in shares of Tilray Brands by 112.7% in the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock valued at $1,222,000 after acquiring an additional 487,051 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Tilray Brands by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock valued at $3,200,000 after acquiring an additional 403,371 shares during the period. Bank of Montreal Can grew its position in shares of Tilray Brands by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock worth $3,310,000 after acquiring an additional 312,476 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new position in shares of Tilray Brands in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 9.35% of the company's stock.

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.