Tilray Brands (NASDAQ:TLRY) Shares Up 9.2% - Time to Buy?

Key Points

• Tilray Brands' stock experienced a significant increase of 9.2% during trading, closing at $1.13, following a previous close of $1.03.
• Analyst ratings are mixed, with one analyst issuing a "buy" rating while six others maintain a "hold" or a "strong sell" rating, resulting in a consensus rating of "Hold" and an average target price of $1.92.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, increasing his ownership stake and demonstrating insider confidence in the company's prospects.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price shot up 9.2% during trading on Monday . The company traded as high as $1.19 and last traded at $1.13. 36,500,048 shares traded hands during trading, a decline of 10% from the average session volume of 40,572,070 shares. The stock had previously closed at $1.03.

Wall Street Analysts Forecast Growth

TLRY has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $1.92.

Tilray Brands Price Performance

The company has a 50 day moving average price of $0.59 and a 200-day moving average price of $0.61. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -0.49 and a beta of 1.85. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $224.54 million during the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. As a group, equities research analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 directly owned 3,941,633 shares in the company, valued at $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Lido Advisors LLC bought a new position in Tilray Brands in the 4th quarter valued at approximately $28,000. J.W. Cole Advisors Inc. increased its position in Tilray Brands by 203.2% during the 2nd 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 during the period. Cerity Partners LLC acquired a new stake in Tilray Brands during the 1st quarter valued at approximately $31,000. Capital Management Associates Inc increased its position in Tilray Brands by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after purchasing an additional 25,380 shares during the period. Finally, Fifth Lane Capital LP increased its position in Tilray Brands by 400.0% during the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after purchasing an additional 40,000 shares during the period. Institutional investors own 9.35% of the company's stock.

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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