Tilray Brands (NASDAQ:TLRY) Shares Up 5.9% - What's Next?

Key Points

• Tilray Brands shares increased by 5.9%, reaching a last traded price of $1.26 with a significant trading volume of over 49 million shares.
• Analyst ratings are mixed, with a "strong sell" from Wall Street Zen and a "buy" rating along with an increased price target from Jefferies Financial Group, indicating varying outlooks on the stock.
• The company's latest earnings report showed a profit of $0.02 EPS, surpassing expectations, despite a negative net margin of 265.69% and lower revenue than anticipated.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares traded up 5.9% during mid-day trading on Thursday . The stock traded as high as $1.29 and last traded at $1.26. 49,425,411 shares traded hands during trading, an increase of 15% from the average session volume of 42,879,160 shares. The stock had previously closed at $1.19.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group increased their target price on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Finally, Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Tilray Brands presently has a consensus rating of "Hold" and an average target price of $1.94.

Tilray Brands Trading Down 3.6%

The company has a fifty day simple moving average of $0.96 and a two-hundred day simple moving average of $0.66. 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 company has a market cap of $1.34 billion, a PE ratio of -0.53 and a beta of 2.03.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.02 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 business had revenue of $224.54 million for the quarter, compared to the consensus estimate of $250.41 million. Analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Activity at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price 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 $2,404,396.13. The trade was a 4.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TLRY. Tidal Investments LLC lifted its position in Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after acquiring an additional 3,776,410 shares during the period. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands during the 2nd quarter worth approximately $939,000. Millennium Management LLC acquired a new stake in Tilray Brands during the 4th quarter worth approximately $879,000. AQR Capital Management LLC lifted its position in Tilray Brands by 1,839.7% during the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after acquiring an additional 575,757 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tilray Brands by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock worth $2,613,000 after acquiring an additional 286,481 shares during the period. Hedge funds and other institutional investors own 9.35% of the company's stock.

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.