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

Key Points

• Tilray Brands experienced a significant spike in options trading, with traders buying 61,436 call options, marking a 111% increase from the average volume.
• CEO Irwin D. Simon purchased 165,000 shares of Tilray at $0.61 each, increasing his ownership stake by 4.37% and bringing the total value of his holdings to approximately $2.4 million.
• Research analysts have given Tilray Brands a consensus rating of "Hold" with a price target of $1.92, with mixed opinions on the stock's future performance.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was the target of some unusual options trading activity on Monday. Traders purchased 61,436 call options on the stock. Thisrepresentsanincreaseofapproximately111% compared to the average volume of 29,049 call options.

Insider Transactions 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 purchased at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the purchase, the chief executive officer directly owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Tilray Brands

Several large investors have recently added to or reduced their stakes in TLRY. Tidal Investments LLC grew its holdings in Tilray Brands by 9.2% in the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after buying an additional 889,086 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 worth $2,890,000 after purchasing an additional 769,569 shares during the period. Millennium Management LLC purchased a new position in shares of Tilray Brands during the 4th quarter worth $879,000. AQR Capital Management LLC grew its holdings in shares of Tilray Brands by 1,839.7% during the 1st 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 period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Tilray Brands by 112.7% during the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after purchasing an additional 487,051 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Brands Stock Performance

NASDAQ:TLRY traded up $0.11 during trading hours on Monday, reaching $0.76. The company had a trading volume of 66,537,727 shares, compared to its average volume of 35,526,918. 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 has a market cap of $836.40 million, a PE ratio of -0.32 and a beta of 1.85. The business's 50 day moving average price is $0.52 and its 200-day moving average price is $0.61. Tilray Brands has a 1-year low of $0.35 and a 1-year high of $1.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. The firm had revenue of $224.54 million during the quarter, compared to analysts' expectations of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. Research analysts forecast that Tilray Brands will post -0.2 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of 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. Finally, Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Tilray Brands presently has a consensus rating of "Hold" and a consensus price target of $1.92.

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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