Tilray Brands (NASDAQ:TLRY) Shares Gap Up – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $1.06, but opened at $1.10. Tilray Brands shares last traded at $1.13, with a volume of 12,128,373 shares trading hands.

Analyst Upgrades and Downgrades

TLRY has been the topic of several recent analyst reports. Zelman & Associates restated a “neutral” rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Wall Street Zen cut Tilray Brands to a “strong sell” rating in a research note on Saturday, July 5th. Finally, Jefferies Financial Group boosted their price objective on Tilray Brands from $1.50 to $2.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $1.94.

Tilray Brands Stock Performance

The company has a 50-day moving average price of $0.91 and a two-hundred day moving average price of $0.65. The stock has a market capitalization of $1.23 billion, a P/E ratio of -0.48 and a beta of 2.03. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.05. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%.The firm had revenue of $224.54 million for the quarter, compared to analysts’ expectations of $250.41 million. Equities analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

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 dated Wednesday, July 30th. The stock was bought at an average price of $0.61 per share, with a total value of $100,650.00. Following the completion of the acquisition, the chief executive officer owned 3,941,633 shares of the company’s stock, valued at $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Trading of Tilray Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its stake in shares of Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the period. Ausdal Financial Partners Inc. purchased a new stake in shares of Tilray Brands during the second quarter valued at $939,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $2,613,000 after buying an additional 286,481 shares during the last quarter. Swiss National Bank boosted its position in shares of Tilray Brands by 6.1% during the second quarter. Swiss National Bank now owns 1,928,138 shares of the company’s stock valued at $799,000 after buying an additional 111,500 shares during the last quarter. Finally, Quinn Opportunity Partners LLC boosted its position in shares of Tilray Brands by 11.6% during the second quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock valued at $795,000 after buying an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.