Analysts Set Tilray Brands, Inc. (NASDAQ:TLRY) PT at $8.00

Tilray Brands, Inc. (NASDAQ:TLRY) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.00.

A number of research analysts have recently commented on TLRY shares. TD Securities raised Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. TD Cowen decreased their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings upgraded Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 24th. Finally, Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st.

Insider Activity

In related news, CFO Carl 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 acquired 15,000 shares of company stock worth $69,225 over the last ninety days. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new stake in shares of Tilray Brands in the 4th quarter worth $38,000. Cerity Partners LLC increased its stake in shares of Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock valued at $38,000 after buying an additional 45,929 shares during the period. Marex Group plc bought a new stake in shares of Tilray Brands in the second quarter valued at about $40,000. Hilton Capital Management LLC bought a new stake in shares of Tilray Brands in the second quarter valued at about $41,000. Finally, Deutsche Bank AG purchased a new stake in Tilray Brands in the second quarter worth about $44,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Brands Price Performance

Tilray Brands stock opened at $4.50 on Wednesday. Tilray Brands has a 12-month low of $3.67 and a 12-month high of $23.20. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $4.46 and a 200-day moving average price of $5.59. The firm has a market capitalization of $612.90 million, a PE ratio of -4.17 and a beta of 1.92.

Tilray Brands (NASDAQ:TLRY) last posted 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 firm had revenue of $281.71 million during the quarter, compared to analysts’ expectations of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. As a group, equities research analysts forecast that Tilray Brands will post -0.42 EPS for the current year.

Tilray Brands Company Profile

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.