Tilray Brands (NASDAQ:TLRY) Trading 2.1% Higher - Still a Buy?

Key Points

• Tilray Brands' shares increased by 2.1% during trading, with a current trading price around $0.63, despite a significant drop in trading volume.
• The stock has an average rating of “Hold” from analysts, with a price target of $1.92, and one analyst rating it as a buy.
• CEO Irwin D. Simon purchased 165,000 shares at an average price of $0.61, increasing his ownership stake in the company.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 2.1% during trading on Thursday . The company traded as high as $0.65 and last traded at $0.63. 5,601,025 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 35,317,680 shares. The stock had previously closed at $0.62.

Wall Street Analysts Forecast Growth

TLRY has been the topic of a number of research reports. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a research report on Monday, April 14th. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Piper Sandler dropped their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Trading Up 5.4%

The stock has a market cap of $654.73 million, a P/E ratio of -0.28 and a beta of 1.85. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The business's fifty day simple moving average is $0.52 and its 200 day simple moving average is $0.62.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced 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 firm had revenue of $224.54 million for the quarter, compared to analysts' expectations 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, analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling

In other news, CEO Irwin D. Simon acquired 165,000 shares of the 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 transaction, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in shares of Tilray Brands by 55.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after purchasing an additional 11,325 shares in the last quarter. NewEdge Advisors LLC raised its stake in Tilray Brands by 92.1% in the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after acquiring an additional 13,136 shares during the period. TD Waterhouse Canada Inc. raised its position in shares of Tilray Brands by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock valued at $49,000 after purchasing an additional 13,786 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in Tilray Brands by 68.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock valued at $47,000 after buying an additional 14,221 shares during the last quarter. Finally, Lido Advisors LLC bought a new stake in shares of Tilray Brands during the fourth quarter worth approximately $28,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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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