Tilray Brands Sees Unusually High Options Volume (NASDAQ:TLRY)

Key Points

• Tilray Brands saw a significant increase in options trading, with 241,107 call options purchased, marking a 449% rise compared to its average volume.
• The company's stock price rose by 20.9% and has experienced a 12-month high of $1.94, showing strong market activity.
• CEO Irwin D. Simon purchased 165,000 shares at an average cost of $0.61, reflecting confidence in the company's growth prospects, as his ownership in the firm increased by 4.37%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) saw unusually large options trading on Tuesday. Investors bought 241,107 call options on the company. Thisisanincreaseof449% compared to the average volume of 43,911 call options.

Tilray Brands Trading Up 20.9%

Shares of TLRY stock opened at $1.39 on Tuesday. Tilray Brands has a 12-month low of $0.3507 and a 12-month high of $1.94. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock's 50-day moving average price is $0.68 and its 200-day moving average price is $0.61. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -0.60 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data 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. 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 analysts' expectations of $250.41 million. Equities research analysts predict that Tilray Brands will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Irwin D. Simon bought 165,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $0.61 per share, with a total value of $100,650.00. Following the acquisition, the chief executive officer owned 3,941,633 shares in the company, valued at $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Tidal Investments LLC grew its stake in shares of Tilray Brands by 15.0% during the second 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 during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tilray Brands by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock valued at $3,200,000 after purchasing an additional 403,371 shares during the period. Ausdal Financial Partners Inc. purchased a new stake in shares of Tilray Brands in the second quarter valued at approximately $939,000. Dimensional Fund Advisors LP boosted 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 valued at $2,890,000 after purchasing an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tilray Brands by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after purchasing an additional 286,481 shares during the period. Institutional investors own 9.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TLRY. Wall Street Zen cut Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Finally, Jefferies Financial Group lifted their target price on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $1.94.

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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