Insider Buying: Tilray Brands (NASDAQ:TLRY) CFO Acquires $46,200.00 in Stock

Tilray Brands, Inc. (NASDAQ:TLRY) CFO Carl Merton acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average cost of $4.62 per share, with a total value of $46,200.00. Following the completion of the acquisition, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tilray Brands Stock Performance

TLRY stock opened at $4.44 on Friday. The company has a market capitalization of $517.48 million, a P/E ratio of -4.11 and a beta of 1.90. The company has a 50-day simple moving average of $4.60 and a 200 day simple moving average of $6.09. Tilray Brands, Inc. has a fifty-two week low of $3.67 and a fifty-two week high of $23.20. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The company had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. Sell-side analysts predict that Tilray Brands, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Tilray Brands

Large investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new stake in shares of Tilray Brands during the third quarter valued at approximately $518,000. Hillsdale Investment Management Inc. acquired a new position in Tilray Brands in the 4th quarter worth approximately $4,855,000. IFP Advisors Inc grew its position in Tilray Brands by 14.3% during the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after purchasing an additional 7,541 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Tilray Brands during the 4th quarter worth approximately $346,000. Finally, Entropy Technologies LP purchased a new position in Tilray Brands during the 1st quarter worth approximately $123,000. 9.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen lowered their price objective on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. TD Securities raised Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One research 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 given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.00.

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.