Investors Buy Large Volume of Tilray Brands Call Options (NASDAQ:TLRY)

Tilray Brands, Inc. (NASDAQ:TLRY) saw unusually large options trading activity on Wednesday. Traders bought 187,037 call options on the stock. This is an increase of 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 bought 165,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the transaction, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tilray Brands by 317.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,326 shares of the company’s stock valued at $221,000 after buying an additional 126,507 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of Tilray Brands during the 1st quarter valued at approximately $46,000. Madrona Financial Services LLC lifted its stake in shares of Tilray Brands by 42.9% during the 1st quarter. Madrona Financial Services LLC now owns 100,000 shares of the company’s stock valued at $66,000 after buying an additional 30,000 shares in the last quarter. KBC Group NV lifted its stake in shares of Tilray Brands by 102.6% during the 1st quarter. KBC Group NV now owns 77,657 shares of the company’s stock valued at $51,000 after buying an additional 39,325 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its stake in shares of Tilray Brands by 2,038.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 73,460 shares of the company’s stock valued at $48,000 after buying an additional 70,025 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Brands Stock Up 5.0%

TLRY opened at $1.68 on Thursday. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -0.74 and a beta of 1.98. Tilray Brands has a twelve month low of $0.35 and a twelve month high of $2.32. The company’s 50-day moving average price is $1.31 and its two-hundred day moving average price is $0.78.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Thursday, October 9th. The company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.03. The firm had revenue of $209.50 million for the quarter, compared to analysts’ expectations of $205.75 million. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. As a group, equities analysts expect that Tilray Brands will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TLRY shares. Jefferies Financial Group upped their price objective on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a research report on Monday, August 25th. Atb Cap Markets downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Zelman & Associates reaffirmed a “neutral” rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Tilray Brands currently has a consensus rating of “Hold” and an average target price of $2.00.

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.