Tilray Brands (NASDAQ:TLRY) Trading Up 2.2% - Here's What Happened

Key Points

• Tilray Brands shares rose by 2.2% to a last trading price of $1.18, despite a significant decline in trading volume, down 62% from the average.
• Research analysts have mixed opinions on Tilray, with ratings ranging from a "strong sell" to "buy," and a consensus rating of "Hold" with an average price target of $1.94.
• CEO Irwin D. Simon increased his stake in the company by purchasing 165,000 shares at an average price of $0.61 per share, raising his total ownership to 3,941,633 shares.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded up 2.2% during mid-day trading on Friday . The stock traded as high as $1.22 and last traded at $1.18. 16,081,440 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 42,637,629 shares. The stock had previously closed at $1.15.

Analyst Upgrades and Downgrades

TLRY has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Jefferies Financial Group upped their target price on shares of Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Finally, Zelman & Associates reaffirmed 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, Tilray Brands currently has a consensus rating of "Hold" and an average price target of $1.94.

Tilray Brands Trading Up 3.5%

The business's 50-day moving average price is $0.83 and its 200 day moving average price is $0.64. The company has a market cap of $1.31 billion, a P/E ratio of -0.52 and a beta of 2.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. As a group, analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Tilray Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its position in shares of Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after buying an additional 3,776,410 shares in the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands in the 2nd quarter valued at $939,000. Dimensional Fund Advisors LP lifted its position in shares of Tilray Brands by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after acquiring an additional 769,569 shares during the period. Millennium Management LLC acquired a new position in Tilray Brands during the fourth quarter worth $879,000. Finally, AQR Capital Management LLC grew its stake in shares of Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after acquiring an additional 575,757 shares in the last quarter. Institutional investors and hedge funds 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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