Tilray Brands (NASDAQ:TLRY) Trading Up 18.7% on Analyst Upgrade

Key Points

• Tilray Brands' stock surged by 18.7% after Jefferies Financial Group upgraded its price target from $1.50 to $2.00, maintaining a buy rating.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, increasing his total ownership to nearly 3.94 million shares.
• The stock currently holds a consensus rating of "Hold" with a target price of $1.94, despite recent mixed analyst opinions on its performance.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 18.7% during trading on Monday after Jefferies Financial Group raised their price target on the stock from $1.50 to $2.00. Jefferies Financial Group currently has a buy rating on the stock. Tilray Brands traded as high as $1.40 and last traded at $1.37. 67,692,819 shares were traded during trading, an increase of 65% from the average session volume of 40,927,883 shares. The stock had previously closed at $1.15.

Several other research analysts also recently commented on the stock. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $1.94.

Insider Buying and Selling

In related news, CEO Irwin D. Simon acquired 165,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was purchased at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the purchase, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors have recently added to or reduced their stakes in the company. Lido Advisors LLC acquired a new position in Tilray Brands during the 4th quarter worth $28,000. NewEdge Advisors LLC grew its stake in Tilray Brands by 92.1% in the fourth 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. Tower Research Capital LLC TRC increased its stake in 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. Boothbay Fund Management LLC bought a new stake in shares of Tilray Brands during the fourth quarter worth $47,000. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Tilray Brands by 68.0% during 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 in the last quarter. 9.35% of the stock is owned by institutional investors.

Tilray Brands Stock Performance

The stock has a fifty day moving average of $0.66 and a 200-day moving average of $0.61. The firm has a market capitalization of $1.49 billion, a P/E ratio of -0.59 and a beta of 1.85. The company has a quick ratio of 1.49, a current ratio of 2.46 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 for the quarter, topping the consensus estimate of ($0.03) by $0.05. The firm had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. On average, research analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current year.

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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