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

Tilray Brands, Inc. (NASDAQ:TLRY) saw some unusual options trading activity on Monday. Investors acquired 61,436 call options on the company. Thisrepresentsanincreaseofapproximately111% compared to the typical volume of 29,049 call options.

Tilray Brands Trading Up 41.7%

Shares of TLRY opened at $0.92 on Tuesday. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. Tilray Brands has a 12-month low of $0.35 and a 12-month high of $1.98. The firm has a 50-day moving average price of $0.53 and a 200 day moving average price of $0.61. The firm has a market capitalization of $1.01 billion, a P/E ratio of -0.40 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY) last announced 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 firm had revenue of $224.54 million during the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. Sell-side analysts forecast that Tilray Brands will post -0.2 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Tilray Brands

Several hedge funds have recently made changes to their positions in the business. Tidal Investments LLC grew its position in shares of Tilray Brands by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after acquiring an additional 889,086 shares during the last quarter. Bank of Montreal Can grew its position in shares of Tilray Brands by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock worth $3,310,000 after acquiring an additional 312,476 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tilray Brands by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock worth $3,200,000 after acquiring an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tilray Brands by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after acquiring an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tilray Brands by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock worth $2,613,000 after acquiring an additional 286,481 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Roth Capital reaffirmed a “neutral” rating on shares of Tilray Brands in a research report on Monday, April 14th. Wall Street Zen downgraded shares of Tilray Brands to a “strong sell” rating in a report on Saturday, July 5th. Finally, Zelman & Associates reiterated a “neutral” rating on shares of Tilray Brands in a research note on Tuesday, July 29th. 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 stock. Based on data from MarketBeat.com, the company currently 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.