Tilray Brands (NASDAQ:TLRY) Shares Up 3.3% - Still a Buy?

Key Points

• Tilray Brands shares rose by 3.3% to $1.24, reflecting increased trading volume, which was up 28% from the average session.
• Analysts have mixed opinions on Tilray's stock, with some recommending a "buy" rating and others advising a "strong sell," leading to an overall average rating of "hold."
• Institutional investors are increasing their positions in Tilray, with significant transactions reported by firms like Cetera Investment Advisers and Deutsche Bank AG during the fourth quarter.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares shot up 3.3% on Tuesday . The company traded as high as $1.30 and last traded at $1.24. 54,776,345 shares were traded during mid-day trading, an increase of 28% from the average session volume of 42,796,551 shares. The stock had previously closed at $1.20.

Analyst Upgrades and Downgrades

TLRY has been the subject of a number of analyst reports. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen cut Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Finally, Jefferies Financial Group increased their price target on Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Tilray Brands has an average rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Trading Up 3.3%

The business has a fifty day moving average price of $0.98 and a two-hundred day moving average price of $0.67. 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 market capitalization of $1.36 billion, a PE ratio of -0.54 and a beta of 2.01.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its 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. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The company had revenue of $224.54 million during the quarter, compared to analyst estimates of $250.41 million. Analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the purchase, the chief executive officer directly owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently made changes to their positions in TLRY. Cetera Investment Advisers grew its position in shares of Tilray Brands by 69.5% during the fourth quarter. Cetera Investment Advisers now owns 208,257 shares of the company's stock worth $277,000 after buying an additional 85,402 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Tilray Brands by 62.1% during the 4th quarter. Deutsche Bank AG now owns 75,840 shares of the company's stock worth $101,000 after acquiring an additional 29,054 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Tilray Brands during the 4th quarter worth about $879,000. State of Wyoming raised its position in shares of Tilray Brands by 78.0% during the 4th quarter. State of Wyoming now owns 103,489 shares of the company's stock worth $138,000 after acquiring an additional 45,361 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Tilray Brands by 81.7% during the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company's stock worth $219,000 after purchasing an additional 74,100 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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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