Tilray Brands (NASDAQ:TLRY) Stock Price Up 9.2% - Here's What Happened

Key Points

• Tilray Brands' stock price surged by 9.2% during trading, reaching a high of $1.20, with an impressive 164 million shares exchanged, increasing trading volume by 337% compared to the average.
• Despite the rally, research analysts maintain a consensus rating of "Hold" with a price target of $1.92, influenced by mixed ratings, including one "strong sell" and four "hold" ratings.
• CEO Irwin D. Simon recently acquired 165,000 shares at $0.61 each, increasing his ownership stake in Tilray Brands by 4.37%, which signifies confidence amid ongoing market volatility.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price traded up 9.2% during mid-day trading on Tuesday . The company traded as high as $1.20 and last traded at $1.01. 164,949,281 shares traded hands during mid-day trading, an increase of 337% from the average session volume of 37,731,367 shares. The stock had previously closed at $0.92.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $1.92.

Tilray Brands Trading Up 6.2%

The company has a market cap of $1.08 billion, a P/E ratio of -0.42 and a beta of 1.85. The firm has a 50-day moving average of $0.53 and a 200 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 posted 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. The business had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. On average, analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the purchase, the chief executive officer directly owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TLRY. Lido Advisors LLC purchased a new position in Tilray Brands in the fourth quarter valued at approximately $28,000. Cerity Partners LLC bought a new stake in shares of Tilray Brands during the 1st quarter valued at $31,000. Capital Management Associates Inc boosted its stake in Tilray Brands by 100.0% in the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after purchasing an additional 25,380 shares during the period. Fifth Lane Capital LP increased its position in shares of Tilray Brands by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after buying an additional 40,000 shares during the period. Finally, Zuckerman Investment Group LLC bought a new stake in Tilray Brands during the 1st quarter worth approximately $33,000. Hedge funds and other 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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