Tilray Brands (NASDAQ:TLRY) Trading Up 2.9% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 2.9% on Friday . The stock traded as high as $4.62 and last traded at $4.57. 3,372,967 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 4,331,799 shares. The stock had previously closed at $4.44.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, TD Cowen decreased their price objective on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Tilray Brands Trading Up 2.9%

The stock has a fifty day moving average of $4.58 and a 200-day moving average of $6.08. The company has a market cap of $532.63 million, a PE ratio of -4.23 and a beta of 1.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21.

Tilray Brands (NASDAQ:TLRY) last released its earnings results 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). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The business had revenue of $281.71 million during the quarter, compared to analysts’ expectations of $246.30 million. Sell-side analysts anticipate that Tilray Brands, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity at Tilray Brands

In related news, CFO Carl A. Merton purchased 10,000 shares of Tilray Brands stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average price of $4.62 per share, with a total value of $46,200.00. Following the purchase, the chief financial officer directly owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. This represents a 7.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 15,000 shares of company stock valued at $69,225 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Several large investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC purchased a new position in shares of Tilray Brands during the fourth quarter worth approximately $38,000. Essential Partners LLC boosted its holdings in shares of Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after purchasing an additional 8,811 shares during the period. Deutsche Bank AG purchased a new stake in shares of Tilray Brands in the second quarter valued at approximately $44,000. Engineers Gate Manager LP bought a new position in Tilray Brands in the fourth quarter worth approximately $126,000. Finally, R Squared Ltd bought a new position in Tilray Brands in the first quarter worth approximately $94,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.