Tilray Brands (NASDAQ:TLRY) Stock Price Up 2.3% – Time to Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRYGet Free Report) were up 2.3% during mid-day trading on Monday . The company traded as high as $4.10 and last traded at $4.08. 3,601,380 shares were traded during mid-day trading, a decline of 15% from the average session volume of 4,213,675 shares. The stock had previously closed at $3.99.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD Cowen decreased their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. ATB Cormark Capital Markets dropped their target price on Tilray Brands from $8.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday. Weiss Ratings upgraded shares of Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 24th. Finally, TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.00.

View Our Latest Stock Analysis on Tilray Brands

Tilray Brands Stock Performance

The firm’s fifty day simple moving average is $4.39 and its 200 day simple moving average is $5.34. The company has a market capitalization of $555.70 million, a PE ratio of -3.78 and a beta of 1.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37.

Tilray Brands (NASDAQ:TLRYGet Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The company had revenue of $281.71 million for the quarter, compared to analysts’ expectations of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. On average, research analysts predict that Tilray Brands, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling

In related news, CFO Carl Merton purchased 10,000 shares of Tilray Brands stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the transaction, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought 15,000 shares of company stock worth $69,225 over the last quarter. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. Integrated Wealth Concepts LLC purchased a new position in shares of Tilray Brands during the 2nd quarter valued at approximately $27,000. Hilton Head Capital Partners LLC acquired a new position in shares of Tilray Brands in the 4th quarter valued at $38,000. Deutsche Bank AG purchased a new stake in Tilray Brands during the second quarter worth $44,000. Corient Private Wealth LP purchased a new stake in Tilray Brands during the second quarter worth $53,000. Finally, Essential Partners LLC grew its position in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after buying an additional 8,811 shares during the period. Institutional investors and hedge funds own 9.35% of the company’s stock.

About Tilray Brands

(Get Free Report)

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.

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