Tilray Brands (NASDAQ:TLRY) Shares Gap Up – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares gapped up prior to trading on Monday . The stock had previously closed at $1.15, but opened at $1.36. Tilray Brands shares last traded at $1.64, with a volume of 103,622,605 shares.

Analyst Ratings Changes

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

Tilray Brands Stock Up 48.3%

The business has a 50 day moving average of $1.03 and a 200 day moving average of $0.68. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -0.74 and a beta of 2.01. 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 (NASDAQ:TLRY) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, equities analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insiders Place Their Bets

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 shares were bought at an average price of $0.61 per share, for a total transaction 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 approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

Several hedge funds have recently added to or reduced their stakes in TLRY. Deutsche Bank AG boosted its holdings in Tilray Brands by 62.1% in the fourth quarter. Deutsche Bank AG now owns 75,840 shares of the company’s stock valued at $101,000 after acquiring an additional 29,054 shares during the last quarter. Millennium Management LLC bought a new position in Tilray Brands during the fourth quarter worth about $879,000. Two Sigma Advisers LP boosted its holdings in Tilray Brands by 81.7% during the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock worth $219,000 after buying an additional 74,100 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 buying an additional 286,481 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Tilray Brands by 53.0% during the fourth quarter. Toronto Dominion Bank now owns 197,207 shares of the company’s stock worth $260,000 after buying an additional 68,284 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

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.