Tilray Brands Target of Unusually Large Options Trading (NASDAQ:TLRY)

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 82,674 call options on the stock. This is an increase of 233% compared to the average volume of 24,795 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC acquired a new stake in Tilray Brands in the 4th quarter valued at approximately $28,000. Dudley Capital Management LLC acquired a new stake in Tilray Brands in the 4th quarter valued at approximately $29,000. Cerity Partners LLC acquired a new stake in Tilray Brands in the 1st quarter valued at approximately $31,000. Capital Management Associates Inc grew its holdings in 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 buying an additional 25,380 shares during the last quarter. Finally, Fifth Lane Capital LP grew its holdings in Tilray Brands by 400.0% in the 1st 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. 9.35% of the stock is owned by institutional investors.

Tilray Brands Stock Up 12.4%

Shares of TLRY traded up $0.08 during midday trading on Tuesday, reaching $0.76. 55,150,063 shares of the stock were exchanged, compared to its average volume of 35,162,559. Tilray Brands has a 12-month low of $0.35 and a 12-month high of $2.15. The firm has a 50 day simple moving average of $0.47 and a 200-day simple moving average of $0.67. The company has a quick ratio of 1.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.12. The company has a market cap of $761.92 million, a price-to-earnings ratio of -0.73 and a beta of 1.82.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Piper Sandler decreased their target price on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, Wall Street Zen cut Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Tilray Brands presently has an average rating of "Hold" and an average target price 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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