Tilray Brands (NASDAQ:TLRY) Trading Up 3.2% After 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.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price rose 3.2% during mid-day trading 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. Approximately 80,132,600 shares changed hands during mid-day trading, an increase of 92% from the average daily volume of 41,728,441 shares. The stock had previously closed at $1.39.

Other analysts have also issued research reports about the company. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Tilray Brands presently has an average rating of "Hold" and an average price target of $1.94.

Insider Transactions at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the acquisition, the chief executive officer directly owned 3,941,633 shares in the company, valued at $2,404,396.13. This represents a 4.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Tilray Brands

Several hedge funds and other institutional investors have recently bought and sold shares of TLRY. Tidal Investments LLC boosted its position in shares of Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after purchasing an additional 3,776,410 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new stake in Tilray Brands in the second quarter valued at about $939,000. Dimensional Fund Advisors LP grew its stake in shares of Tilray Brands by 54.8% during the fourth 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 during the last quarter. Millennium Management LLC purchased a new stake in shares of Tilray Brands during the fourth quarter worth about $879,000. Finally, AQR Capital Management LLC raised its position in shares of Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock valued at $399,000 after purchasing an additional 575,757 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

Tilray Brands Stock Down 6.1%

The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -0.60 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. The business's 50 day moving average is $0.76 and its 200 day moving average is $0.63.

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

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.