Tilray Brands Sees Unusually Large Options Volume (NASDAQ:TLRY)

Tilray Brands, Inc. (NASDAQ:TLRY) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 64,613 call options on the company. This represents an increase of 188% compared to the typical volume of 22,425 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lido Advisors LLC acquired a new position in shares of Tilray Brands during the fourth quarter valued at about $28,000. Dudley Capital Management LLC acquired a new position in shares of Tilray Brands during the fourth quarter valued at about $29,000. Verdence Capital Advisors LLC acquired a new position in shares of Tilray Brands during the fourth quarter valued at about $29,000. Cerity Partners LLC acquired a new position in shares of Tilray Brands during the first quarter valued at about $31,000. Finally, Capital Management Associates Inc raised its position in shares of Tilray Brands by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company’s stock valued at $33,000 after buying an additional 25,380 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Stock Up 9.4%

Tilray Brands stock opened at $0.53 on Friday. The firm has a market cap of $534.45 million, a price-to-earnings ratio of -0.51 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.62 and a quick ratio of 1.61. Tilray Brands has a fifty-two week low of $0.35 and a fifty-two week high of $2.15. The firm has a fifty day moving average price of $0.43 and a two-hundred day moving average price of $0.73.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. As a group, analysts forecast that Tilray Brands will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TLRY. Roth Capital reiterated a “neutral” rating on shares of Tilray Brands in a report on Monday, April 14th. Piper Sandler cut their target price on shares of Tilray Brands from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th.

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.