Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.6% – What’s Next?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) were up 1.6% on Tuesday. The stock traded as high as $3.84 and last traded at $3.78. Approximately 3,601,981 shares traded hands during trading, a decline of 14% from the average session volume of 4,211,350 shares. The stock had previously closed at $3.72.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TLRY. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Zacks Research cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 29th. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. ATB Cormark Capital Markets dropped their target price on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, September 21st. Finally, TD Cowen reduced their price target on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.38.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The stock has a market capitalization of $514.85 million, a price-to-earnings ratio of -3.50 and a beta of 1.91. The stock has a 50 day moving average price of $4.33 and a 200-day moving average price of $5.09.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The firm had revenue of $281.71 million during 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%. On average, analysts forecast that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Activity at Tilray Brands

In other Tilray Brands news, CFO Carl Merton purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the completion of the purchase, the chief financial officer owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 15,000 shares of company stock valued at $69,225 in the last ninety days. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of Tilray Brands

A number of hedge funds have recently bought and sold shares of the business. Hilton Head Capital Partners LLC purchased a new position in Tilray Brands in the 4th quarter worth approximately $38,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Tilray Brands in the second quarter valued at approximately $27,000. Essential Partners LLC increased 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 last quarter. Deutsche Bank AG purchased a new position in Tilray Brands during the second quarter worth approximately $44,000. Finally, Corient Private Wealth LP acquired a new position in Tilray Brands during the second quarter worth $53,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company focused on cannabis, beverage alcohol, wellness and consumer products. The company develops, produces, distributes and markets a range of cannabis products, including dried flower, pre-rolls, vapes, edibles and medical cannabis products, subject to applicable regulations in the markets it serves.

Tilray also operates beverage alcohol businesses, including craft beer, spirits and other alcoholic beverages. Its portfolio has included brands such as SweetWater Brewing Company, Montauk Brewing Company and Breckenridge Distillery.