Tilray Brands (NASDAQ:TLRY) Trading Up 2.7% - Here's Why

Key Points

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Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price shot up 2.7% during trading on Friday . The stock traded as high as $0.67 and last traded at $0.67. 7,290,033 shares changed hands during trading, a decline of 79% from the average session volume of 35,185,156 shares. The stock had previously closed at $0.65.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TLRY shares. Roth Capital reiterated a "neutral" rating on shares of Tilray Brands in a research report on Monday, April 14th. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Finally, Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Tilray Brands currently has a consensus rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Up 2.5%

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's 50-day moving average price is $0.52 and its 200 day moving average price is $0.62. The firm has a market capitalization of $671.34 million, a price-to-earnings ratio of -0.29 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping 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 business had revenue of $224.54 million for the quarter, compared to analysts' expectations of $250.41 million. Sell-side analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Activity

In other news, CEO Irwin D. Simon acquired 165,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost of $0.61 per share, with a total value of $100,650.00. Following the transaction, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lido Advisors LLC bought a new stake in shares of Tilray Brands during the 4th quarter valued at about $28,000. Cerity Partners LLC acquired a new position in Tilray Brands during the 1st quarter worth $31,000. Capital Management Associates Inc increased its holdings in shares of Tilray Brands by 100.0% during the first 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 period. Fifth Lane Capital LP lifted its holdings in Tilray Brands by 400.0% in the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after purchasing an additional 40,000 shares during the period. Finally, Zuckerman Investment Group LLC bought a new position in shares of Tilray Brands in the first quarter valued at approximately $33,000. 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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