Tilray Brands (NASDAQ:TLRY) Trading Up 2.3% - What's Next?

Key Points

• Tilray Brands' share price increased by 2.3% to close at $1.14, although trading volume was down 39% compared to the average daily volume.
• The company reported earnings of $0.02 per share for the last quarter, exceeding expectations, but revenue fell short of estimates at $224.54 million compared to the expected $250.41 million.
• Analysts have mixed ratings on Tilray, with a consensus of "Hold" and an average price target set at $1.92, while Wall Street Zen has downgraded it to a "strong sell."

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price was up 2.3% during trading on Friday . The company traded as high as $1.18 and last traded at $1.14. Approximately 24,688,802 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 40,638,023 shares. The stock had previously closed at $1.11.

Analyst Ratings Changes

A number of analysts have commented on TLRY shares. Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Zelman & Associates reissued 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 Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Up 3.6%

The company has a market capitalization of $1.27 billion, a PE ratio of -0.50 and a beta of 1.85. 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 company has a 50-day moving average of $0.64 and a two-hundred day moving average of $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 for the quarter, beating the consensus estimate of ($0.03) by $0.05. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%.The company had revenue of $224.54 million for the quarter, compared to the consensus estimate of $250.41 million. Sell-side analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the transaction, the chief executive officer directly owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Several large investors have recently made changes to their positions in the business. Tidal Investments LLC increased its holdings in shares of Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands in the second quarter worth about $939,000. Dimensional Fund Advisors LP increased its holdings in shares of Tilray Brands by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after purchasing an additional 769,569 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Tilray Brands in the fourth quarter worth about $879,000. Finally, AQR Capital Management LLC increased its holdings in shares of Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after purchasing an additional 575,757 shares during the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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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