Tilray Brands Target of Unusually Large Options Trading (NASDAQ:TLRY)

Tilray Brands, Inc. (NASDAQ:TLRY) was the target of unusually large options trading on Monday. Traders purchased 268,294 call options on the company. This is an increase of 342% compared to the typical volume of 60,643 call options.

Insider Buying and Selling

In related news, CEO Irwin D. Simon purchased 165,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $0.61 per share, with a total value of $100,650.00. Following the completion of the purchase, the chief executive officer owned 3,941,633 shares in the company, valued at $2,404,396.13. This represents a 4.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Tilray Brands

Large investors have recently made changes to their positions in the company. Marex Group plc bought a new position in Tilray Brands during the 2nd quarter worth $40,000. State of Wyoming grew its holdings in shares of Tilray Brands by 38.7% during the 2nd quarter. State of Wyoming now owns 334,576 shares of the company’s stock worth $139,000 after purchasing an additional 93,411 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Tilray Brands by 100.2% in the second quarter. Corient Private Wealth LLC now owns 388,366 shares of the company’s stock worth $161,000 after purchasing an additional 194,369 shares during the period. Tidal Investments LLC raised its stake in Tilray Brands by 15.0% in 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 in the last quarter. Finally, Hilton Capital Management LLC bought a new stake in Tilray Brands during the second quarter worth about $41,000. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Trading Up 60.9%

TLRY stock opened at $1.85 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The company has a fifty day moving average price of $1.05 and a two-hundred day moving average price of $0.69. Tilray Brands has a one year low of $0.35 and a one year high of $1.86. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -0.80 and a beta of 2.01.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data 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. The company had revenue of $224.54 million for 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%. Equities analysts anticipate that Tilray Brands will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

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

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.