Tilray Brands (NASDAQ:TLRY) Trading Up 1.3% - Here's Why

Key Points

• Tilray Brands shares increased by 1.3% to $1.14, but trading volume fell significantly to approximately 13.47 million shares, down 68% from the average daily volume.
• Wall Street analysts maintain a mixed outlook on Tilray, with a "Hold" average rating and a price target of $1.94, although Jefferies Financial Group upgraded the stock to a "buy" with a target price of $2.00.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, indicating strong insider confidence, while institutional investors have also increased their holdings in the company.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) were up 1.3% during mid-day trading on Tuesday . The company traded as high as $1.14 and last traded at $1.14. Approximately 13,469,926 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 42,698,691 shares. The stock had previously closed at $1.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TLRY shares. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $1.94.

Tilray Brands Stock Up 2.2%

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The firm has a market capitalization of $1.26 billion, a P/E ratio of -0.49 and a beta of 2.01. The company's 50-day simple moving average is $0.86 and its two-hundred day simple moving average is $0.64.

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. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The business had revenue of $224.54 million for the quarter, compared to the consensus estimate of $250.41 million. As a group, research analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Irwin D. Simon purchased 165,000 shares of the company'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 purchase, the chief executive officer owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in Tilray Brands by 55.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock valued at $42,000 after acquiring an additional 11,325 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Tilray Brands by 68.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock worth $47,000 after buying an additional 14,221 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Tilray Brands by 8.8% in the second quarter. SBI Securities Co. Ltd. now owns 300,707 shares of the company's stock valued at $125,000 after buying an additional 24,375 shares during the last quarter. Capital Management Associates Inc raised its stake in shares of Tilray Brands by 100.0% during the 1st 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 during the period. Finally, Deutsche Bank AG increased its stake in shares of Tilray Brands by 62.1% during the fourth quarter. Deutsche Bank AG now owns 75,840 shares of the company's stock worth $101,000 after purchasing an additional 29,054 shares in the last quarter. 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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