Tilray Brands, Inc. (NASDAQ:TLRY) Stock Has Average Price Target of $5.90

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.90.

A number of research analysts recently commented on the stock. TD dropped their target price on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating on the stock in a research report on Monday, October 5th. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. ATB Cormark Capital Markets reduced their price target on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, September 21st. Zacks Research cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 29th. Finally, Canaccord Genuity Group lowered their price objective on shares of Tilray Brands from $4.50 to $4.00 and set a “hold” rating on the stock in a research report on Friday, October 9th.

Insider Buying and Selling at Tilray Brands

In related news, CFO Carl Merton purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were purchased at an average price 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 $645,658.86. This represents a 7.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 15,000 shares of company stock worth $69,225 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Tilray Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new stake in Tilray Brands during the 2nd quarter worth approximately $27,000. Deutsche Bank AG acquired a new position in shares of Tilray Brands in the second quarter valued at approximately $44,000. Corient Private Wealth LP purchased a new stake in shares of Tilray Brands during the second quarter worth approximately $53,000. Essential Partners LLC raised its stake in shares of Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of Tilray Brands during the second quarter worth $58,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Brands Price Performance

Shares of NASDAQ TLRY opened at $2.81 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.88. Tilray Brands has a fifty-two week low of $2.80 and a fifty-two week high of $15.70. The firm has a market capitalization of $415.29 million, a PE ratio of -2.01 and a beta of 1.91. The stock’s 50-day simple moving average is $3.98 and its 200-day simple moving average is $4.78.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.16. The firm had revenue of $257.15 million during the quarter, compared to the consensus estimate of $266.26 million. Tilray Brands had a negative return on equity of 10.39% and a negative net margin of 16.91%. As a group, equities research analysts forecast that Tilray Brands will post -0.52 EPS for the current fiscal year.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.