Tilray Brands (NASDAQ:TLRY) Stock Price Up 60.9% - What's Next?

Key Points

• Tilray Brands' stock surged 60.9%, reaching a last traded price of $1.85 after trading as high as $1.86, with trading volume increasing by 727% compared to the average daily volume.
• Wall Street analysts have mixed ratings for Tilray, with two analysts recommending a buy, four assigning a hold, and one rating it a strong sell.
• Insider trading revealed that CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, enhancing his total ownership by 4.37% and valuing his stake at approximately $2.4 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) rose 60.9% during mid-day trading on Monday . The stock traded as high as $1.86 and last traded at $1.85. Approximately 369,045,925 shares were traded during mid-day trading, an increase of 727% from the average daily volume of 44,630,020 shares. The stock had previously closed at $1.15.

Wall Street Analysts Forecast Growth

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

Tilray Brands Stock Up 60.9%

The stock has a market capitalization of $2.04 billion, a P/E ratio of -0.80 and a beta of 2.01. The firm's fifty day moving average is $1.03 and its 200-day moving average is $0.68. 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 announced its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. As a group, equities research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Transactions at Tilray Brands

In other news, CEO Irwin D. Simon purchased 165,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $0.61 per share, with a total value of $100,650.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors have recently modified their holdings of TLRY. J.W. Cole Advisors Inc. raised its stake in shares of Tilray Brands by 203.2% in the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock worth $30,000 after acquiring an additional 48,177 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Tilray Brands in the first quarter worth about $31,000. Capital Management Associates Inc raised its stake in shares of Tilray Brands by 100.0% in the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after acquiring an additional 25,380 shares during the last quarter. Fifth Lane Capital LP raised its stake in shares of Tilray Brands by 400.0% in the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Zuckerman Investment Group LLC bought a new position in shares of Tilray Brands in the first quarter worth about $33,000. 9.35% of the stock is owned by institutional investors.

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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