Tilray Brands (NASDAQ:TLRY) Sets New 1-Year High – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares reached a new 52-week high on Tuesday . The company traded as high as $1.86 and last traded at $1.85, with a volume of 371299239 shares traded. The stock had previously closed at $1.15.

Analyst Ratings Changes

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

Tilray Brands Stock Down 4.3%

The stock’s 50-day moving average price is $1.09 and its 200-day moving average price is $0.71. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -0.72 and a beta of 1.98.

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

Insider Activity

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 3,941,633 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC increased its stake in shares of Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after acquiring an additional 3,776,410 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands in the second quarter worth $939,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tilray Brands by 17.1% in 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 purchasing an additional 286,481 shares in the last quarter. Swiss National Bank raised its holdings 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 purchasing an additional 111,500 shares during the period. Finally, Quinn Opportunity Partners LLC boosted its position in shares of Tilray Brands by 11.6% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock worth $795,000 after purchasing an additional 200,000 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.