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

Key Points

• Tilray Brands experienced a significant surge in options trading, with investors purchasing 187,037 call options, a 91% increase from its average daily volume.
• CEO Irwin D. Simon purchased 165,000 shares of the company at an average price of $0.61, increasing his stake by 4.37% to a total value of approximately $2.4 million.
• Analysts have mixed ratings for Tilray, with a consensus of "Hold" and an average target price of $2.00, while the stock recently traded at $1.69.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was the target of unusually large options trading activity on Wednesday. Investors bought 187,037 call options on the stock. This is an increase of approximately 91% compared to the average daily volume of 98,122 call options.

Insider Activity at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $0.61 per share, with a total value of $100,650.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

Hedge funds have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC bought a new stake in Tilray Brands during the first quarter valued at approximately $50,000. KBC Group NV raised its stake in shares of Tilray Brands by 102.6% during the first quarter. KBC Group NV now owns 77,657 shares of the company's stock worth $51,000 after acquiring an additional 39,325 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Tilray Brands by 25.8% during the first quarter. Vontobel Holding Ltd. now owns 241,844 shares of the company's stock worth $159,000 after acquiring an additional 49,643 shares in the last quarter. Baader Bank Aktiengesellschaft raised its stake in shares of Tilray Brands by 11.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company's stock worth $134,000 after acquiring an additional 33,684 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Tilray Brands by 317.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 166,326 shares of the company's stock worth $221,000 after acquiring an additional 126,507 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Saturday. 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 downgraded shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, October 8th. Finally, Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $2.00.

Tilray Brands Stock Performance

Shares of TLRY traded up $0.09 during trading hours on Wednesday, hitting $1.69. The company's stock had a trading volume of 100,657,888 shares, compared to its average volume of 49,345,477. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -0.74 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56. The business has a 50 day simple moving average of $1.28 and a two-hundred day simple moving average of $0.77. Tilray Brands has a 52-week low of $0.35 and a 52-week high of $2.32.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Thursday, October 9th. The company reported $0.00 earnings per share 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 firm had revenue of $209.50 million during the quarter, compared to the consensus estimate of $205.75 million. On average, equities analysts expect that Tilray Brands will post -0.2 earnings per share for the current fiscal year.

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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