Tilray Brands (NASDAQ:TLRY) Shares Up 3.2% on Analyst Upgrade

Key Points

• Tilray Brands' stock increased by 3.2% following an upgrade from Jefferies Financial Group, which raised the price target from $1.50 to $2.00.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, enhancing his ownership by 4.37% to a total of nearly 4 million shares, currently valued at approximately $2.4 million.
• The company's recent earnings report showed a profit of $0.02 per share, exceeding expectations, but revenue of $224.54 million fell short of the projected $250.41 million.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 3.2% on Tuesday after Jefferies Financial Group raised their price target on the stock from $1.50 to $2.00. Jefferies Financial Group currently has a buy rating on the stock. Tilray Brands traded as high as $1.55 and last traded at $1.44. 80,132,600 shares were traded during trading, an increase of 92% from the average session volume of 41,728,441 shares. The stock had previously closed at $1.39.

TLRY has been the subject of several other reports. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen cut Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $1.94.

Insider Activity

In other news, CEO Irwin D. Simon bought 165,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was purchased 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Tilray Brands

Institutional investors have recently added to or reduced their stakes in the business. Lido Advisors LLC purchased a new position in shares of Tilray Brands in the 4th quarter worth $28,000. J.W. Cole Advisors Inc. lifted its position in Tilray Brands by 203.2% during the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock valued at $30,000 after purchasing an additional 48,177 shares in the last quarter. Cerity Partners LLC bought a new stake in Tilray Brands during the first quarter valued at about $31,000. Capital Management Associates Inc raised its holdings in Tilray Brands by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after acquiring an additional 25,380 shares during the period. Finally, Fifth Lane Capital LP raised its holdings in Tilray Brands by 400.0% during the first 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 during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Brands Stock Up 2.6%

The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $0.68 and a 200-day moving average price of $0.61. The stock has a market capitalization of $1.57 billion, a P/E ratio of -0.62 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.02 earnings per share (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 firm had revenue of $224.54 million for the quarter, compared to analysts' expectations of $250.41 million. As a group, research analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

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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