Tilray Brands (NASDAQ:TLRY) Shares Up 4.7% - What's Next?

Key Points

• Tilray Brands shares experienced a 4.7% increase on Tuesday, reaching a closing price of $1.66 with a trading volume jump of 22% from the average.
• Analysts have differing views on the stock, with ratings ranging from a "strong sell" to a "buy," and a current consensus price target set at $1.94.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, indicating his confidence in the company's future prospects.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) rose 4.7% during mid-day trading on Tuesday . The company traded as high as $1.73 and last traded at $1.66. Approximately 56,328,487 shares traded hands during trading, an increase of 22% from the average daily volume of 46,328,418 shares. The stock had previously closed at $1.58.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tilray Brands in a report on Saturday, September 27th. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Jefferies Financial Group upped their price target on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tilray Brands presently has a consensus rating of "Hold" and a consensus price target of $1.94.

Tilray Brands Price Performance

The firm has a market capitalization of $1.87 billion, a P/E ratio of -0.73 and a beta of 1.98. The stock's 50 day simple moving average is $1.14 and its 200 day simple moving average is $0.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46.

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

Insiders Place Their Bets

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the company'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 acquisition, the chief executive officer directly owned 3,941,633 shares in the company, 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 SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in Tilray Brands by 8.0% during the fourth quarter. California State Teachers Retirement System now owns 778,513 shares of the company's stock valued at $1,035,000 after purchasing an additional 57,544 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Tilray Brands in the 1st quarter valued at about $50,000. Vontobel Holding Ltd. grew its position in shares of Tilray Brands by 25.8% in the 1st quarter. Vontobel Holding Ltd. now owns 241,844 shares of the company's stock worth $159,000 after buying an additional 49,643 shares during the last quarter. KBC Group NV raised its stake in shares of Tilray Brands by 102.6% during the 1st quarter. KBC Group NV now owns 77,657 shares of the company's stock worth $51,000 after acquiring an additional 39,325 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its position in Tilray Brands by 11.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company's stock valued at $134,000 after acquiring an additional 33,684 shares during the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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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