Traders Buy Large Volume of Tilray Brands Call Options (NASDAQ:TLRY)

Key Points

• Unusual options activity: Traders bought 45,077 call options on TLRY on Wednesday — about an 89% increase versus average daily call volume — as the stock rose $0.80 to $7.69 on heavy trading (21.6M shares vs avg 3.82M).
• Earnings were mixed: Tilray reported Q results with a −$0.24 EPS (missing estimates by $0.10) but beat revenue expectations with $206.7M, while maintaining negative margins and a market cap near $896M.
• Analysts remain cautious with a consensus "Hold" rating and an average target of $11.50 (3 Buys, 4 Holds, 1 Sell), and institutional investors own roughly 9.35% of the stock.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock investors acquired 45,077 call options on the company. This represents an increase of approximately 89% compared to the average daily volume of 23,817 call options.

Analyst Ratings Changes

A number of research analysts have commented on TLRY shares. Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They set a "hold" rating on the stock. ATB Cormark Capital Markets lowered their price objective on shares of Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a research report on Thursday, April 2nd. Roth Mkm upgraded shares of Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a research note on Thursday, April 2nd. Zacks Research upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 11th. Finally, Wall Street Zen raised Tilray Brands from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $11.50.

Hedge Funds Weigh In On Tilray Brands

Hedge funds have recently made changes to their positions in the business. Silverlake Wealth Management LLC acquired a new position in shares of Tilray Brands in the 3rd quarter worth $25,000. Oppenheimer & Co. Inc. purchased a new position in Tilray Brands in the 3rd quarter worth about $25,000. Unified Investment Management acquired a new stake in Tilray Brands during the 3rd quarter worth about $26,000. Y Intercept Hong Kong Ltd purchased a new stake in Tilray Brands during the third quarter valued at about $30,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Tilray Brands in the third quarter worth about $33,000. Institutional investors and hedge funds own 9.35% of the company's stock.

Tilray Brands Stock Performance

TLRY traded up $0.80 during trading hours on Wednesday, hitting $7.69. The company's stock had a trading volume of 21,587,238 shares, compared to its average volume of 3,817,342. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. Tilray Brands has a fifty-two week low of $3.51 and a fifty-two week high of $23.20. The company has a 50-day simple moving average of $7.03 and a 200 day simple moving average of $9.54. The firm has a market capitalization of $896.39 million, a PE ratio of -0.57 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.10). The business had revenue of $206.73 million for the quarter, compared to analyst estimates of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same period last year, the business posted ($0.87) earnings per share. As a group, sell-side analysts expect that Tilray Brands will post -0.55 EPS for the current year.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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