Tilray Brands (NASDAQ:TLRY) Stock Price Up 17.3% - What's Next?

Key Points

• Tilray Brands' stock price surged 17.3% to $1.12, with trading volume significantly exceeding average levels at 60 million shares.
• Recent analyst reports provided mixed ratings for Tilray, with one downgrade to "strong sell" and a consensus target price of $1.92, indicating caution among investors.
• CEO Irwin D. Simon bought 165,000 shares at $0.61 each, indicating confidence in the company's future despite the overall market volatility.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares shot up 17.3% during mid-day trading on Wednesday . The stock traded as high as $1.10 and last traded at $1.12. 60,006,911 shares traded hands during trading, an increase of 55% from the average session volume of 38,643,164 shares. The stock had previously closed at $0.95.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TLRY. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. 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 assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tilray Brands currently has a consensus rating of "Hold" and a consensus price target of $1.92.

Tilray Brands Stock Performance

The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average price of $0.59 and a 200 day moving average price of $0.61. The firm has a market cap of $1.13 billion, a PE ratio of -0.45 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping the consensus estimate 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 business had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. As a group, equities research analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon acquired 165,000 shares of Tilray Brands stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following 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 filing with the SEC, which is available at this hyperlink. Company insiders own 0.60% of the company's stock.

Institutional Trading of Tilray Brands

Several institutional investors and hedge funds have recently bought and sold shares of TLRY. Tidal Investments LLC raised its holdings in Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after buying an additional 3,776,410 shares during the period. Ausdal Financial Partners Inc. purchased a new stake in Tilray Brands in the 2nd quarter valued at about $939,000. Dimensional Fund Advisors LP raised its holdings in Tilray Brands by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares during the period. Millennium Management LLC purchased a new stake in Tilray Brands during the fourth quarter worth about $879,000. Finally, AQR Capital Management LLC increased its stake in Tilray Brands by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after purchasing an additional 575,757 shares during the period. 9.35% of the stock is currently owned by hedge funds and other 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.