Tilray Brands (NASDAQ:TLRY) Trading Up 5% - Here's What Happened

Key Points

• Tilray Brands, Inc. shares rose 5% to trade at $1.68 after experiencing a substantial increase in trading volume, surpassing the typical daily average by 145%.
• Analyst ratings for Tilray vary, with Jefferies Financial raising its price target to $2.00 while Atb Cap Markets downgraded it to "strong sell," resulting in an average rating of "Hold" among analysts.
• The company's latest earnings report revealed a revenue of $209.50 million, exceeding expectations, but it also reflected a significant negative net margin of 258.54% and ongoing financial challenges.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares were up 5% on Wednesday . The stock traded as high as $1.84 and last traded at $1.68. Approximately 121,125,957 shares changed hands during mid-day trading, an increase of 145% from the average daily volume of 49,469,469 shares. The stock had previously closed at $1.60.

Analyst Ratings Changes

A number of research analysts have recently commented on TLRY shares. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Jefferies Financial Group upped their price target on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Atb Cap Markets cut shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a report on Thursday, October 9th. Wall Street Zen upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $2.00.

Tilray Brands Trading Up 5.0%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The company's fifty day simple moving average is $1.28 and its 200-day simple moving average is $0.77. The company has a market capitalization of $1.85 billion, a P/E ratio of -0.74 and a beta of 1.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Thursday, October 9th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.03. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. The company had revenue of $209.50 million for the quarter, compared to analysts' expectations of $205.75 million. Research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at Tilray Brands

In other news, CEO Irwin D. Simon purchased 165,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.84% of the company's stock.

Institutional Trading of Tilray Brands

Hedge funds have recently modified their holdings of the company. Cerity Partners LLC purchased a new stake in shares of Tilray Brands during the first quarter valued at about $31,000. Fifth Lane Capital LP lifted its position in shares of Tilray Brands by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after buying an additional 40,000 shares during the last quarter. Zuckerman Investment Group LLC purchased a new stake in shares of Tilray Brands during the first quarter valued at about $33,000. Capital Management Associates Inc raised 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. Finally, Brighton Jones LLC raised its position in shares of Tilray Brands by 28.3% in the 3rd quarter. Brighton Jones LLC now owns 59,510 shares of the company's stock valued at $103,000 after purchasing an additional 13,137 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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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