Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price shot up 3.3% during mid-day trading on Thursday . The company traded as high as $1.14 and last traded at $1.10. 22,898,096 shares traded hands during trading, a decline of 44% from the average session volume of 40,530,820 shares. The stock had previously closed at $1.06.
Analyst Ratings Changes
A number of research firms recently issued reports on TLRY. Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Zelman & Associates reaffirmed 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 Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $1.92.
Check Out Our Latest Stock Analysis on Tilray Brands
Tilray Brands Stock Up 2.4%
The stock has a market capitalization of $1.19 billion, a PE ratio of -0.47 and a beta of 1.85. The firm has a 50 day moving average of $0.63 and a two-hundred day moving average of $0.61. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20.
Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly 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. The company had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. Equities research analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.
Insiders Place Their Bets
In related news, CEO Irwin D. Simon acquired 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were bought at an average price 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 in the company, valued at $2,404,396.13. This trade represents 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 Trading of Tilray Brands
Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Tilray Brands by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Tilray Brands by 112.7% during the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock valued at $1,222,000 after purchasing an additional 487,051 shares during the period. Millennium Management LLC acquired a new stake in Tilray Brands during the 4th quarter valued at $879,000. Raymond James Financial Inc. acquired a new position in shares of Tilray Brands in the fourth quarter worth $255,000. Finally, Tidal Investments LLC increased its stake in shares of Tilray Brands by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after acquiring an additional 889,086 shares during the last quarter. 9.35% of the stock is owned by institutional investors.
About Tilray Brands
(
Get Free Report)
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.
Further Reading
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