Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 14.4% during trading on Monday . The stock traded as high as $0.80 and last traded at $0.74. 62,948,615 shares changed hands during mid-day trading, an increase of 77% from the average session volume of 35,477,816 shares. The stock had previously closed at $0.65.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on TLRY. Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Finally, Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $1.92.
View Our Latest Stock Analysis on Tilray Brands
Tilray Brands Stock Performance
The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -0.44 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 stock's fifty day simple moving average is $0.53 and its 200-day simple moving average is $0.61.
Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.05. The company had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. Analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current year.
Insider Transactions at Tilray Brands
In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the acquisition, the chief executive officer directly owned 3,941,633 shares in the company, valued at $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Tilray Brands
Hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC acquired a new stake in Tilray Brands during the 4th quarter worth approximately $28,000. Cerity Partners LLC purchased a new stake in shares of Tilray Brands in the 1st quarter valued at approximately $31,000. Capital Management Associates Inc increased its position in shares of Tilray Brands by 100.0% in the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after purchasing an additional 25,380 shares during the last quarter. Fifth Lane Capital LP increased its position in shares of Tilray Brands by 400.0% in 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. Finally, Zuckerman Investment Group LLC purchased a new stake in shares of Tilray Brands in the 1st quarter valued at approximately $33,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.
About Tilray Brands
(
Get Free Report)
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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