Tilray Brands (NASDAQ:TLRY) Stock Price Up 8.2% - Here's Why

Key Points

• Tilray Brands' stock price increased by 8.2% on Tuesday, rising to $1.71 after closing at $1.58, with trading volume up 167% compared to its average daily volume.
• Analysts have a consensus rating of "Hold" with a target price of $1.94, although Jefferies Financial Group has rated the stock as a "buy" with a target price of $2.00.
• CEO Irwin D. Simon recently purchased 165,000 shares at $0.61 per share, increasing his ownership stake in the company.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) rose 8.2% on Tuesday . The company traded as high as $1.74 and last traded at $1.71. Approximately 124,904,745 shares were traded during trading, an increase of 167% from the average daily volume of 46,733,742 shares. The stock had previously closed at $1.58.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TLRY shares. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Jefferies Financial Group upped their target price on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Stock Up 8.9%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. The stock's fifty day simple moving average is $1.14 and its two-hundred day simple moving average is $0.73. The stock has a market capitalization of $1.89 billion, a P/E ratio of -0.74 and a beta of 1.98.

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

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the transaction, the chief executive officer owned 3,941,633 shares of the company's stock, valued at $2,404,396.13. The trade was a 4.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC purchased a new stake in shares of Tilray Brands during the 1st quarter valued at $31,000. Fifth Lane Capital LP increased its position in shares of 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 last quarter. Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands during the 1st quarter valued at about $33,000. Capital Management Associates Inc boosted its stake in 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 buying an additional 25,380 shares in the last quarter. Finally, Garde Capital Inc. bought a new position in Tilray Brands during the first quarter valued at approximately $46,000. 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.

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