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

Key Points

• Tilray Brands saw a significant spike in options trading with 42,075 put options purchased, marking a 45% increase from the average volume.
• CEO Irwin D. Simon purchased 165,000 shares of the company, increasing his stake by 4.37% to nearly 3.94 million shares valued at approximately $2.4 million.
• Despite recent acquisitions by institutional investors, analysts have mixed ratings on Tilray, with an average rating of "Hold" and a price target of $1.92.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 42,075 put options on the stock. Thisisanincreaseof45% compared to the average volume of 29,091 put options.

Insider Buying and Selling

In related news, CEO Irwin D. Simon bought 165,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the acquisition, the chief executive officer owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TLRY. Lido Advisors LLC acquired a new position in shares of Tilray Brands during the 4th quarter worth about $28,000. Cerity Partners LLC acquired a new position in shares of Tilray Brands during the 1st quarter worth about $31,000. Capital Management Associates Inc grew its position in shares of Tilray Brands by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after buying an additional 25,380 shares during the period. Fifth Lane Capital LP grew its position in shares of Tilray Brands by 400.0% during the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after buying an additional 40,000 shares during the period. Finally, Zuckerman Investment Group LLC acquired a new position in shares of Tilray Brands during the 1st quarter worth about $33,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TLRY has been the subject of a number of research reports. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Piper Sandler reduced their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Tilray Brands has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Performance

Shares of Tilray Brands stock traded up $0.02 during midday trading on Tuesday, hitting $0.63. The company had a trading volume of 21,961,085 shares, compared to its average volume of 35,598,031. The business's 50 day simple moving average is $0.51 and its two-hundred day simple moving average is $0.62. The stock has a market cap of $632.08 million, a PE ratio of -0.27 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. 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 data on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. The company 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%. As a group, equities analysts predict that Tilray Brands will post -0.2 EPS for the current fiscal year.

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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