TD Issues Pessimistic Forecast for Tilray Brands (NASDAQ:TLRY) Stock Price

Key Points

• TD lowered its price target for Tilray Brands from $4.70 to $4.50 but maintained a “buy” rating, implying approximately 19% upside from the stock’s $3.77 price.
• Analyst sentiment remains mixed: MarketBeat reports a consensus “hold” rating and an average price target of $6.38, while Zacks Research and other firms recently downgraded the stock to “strong sell” or “sell.”
• Tilray’s latest quarterly results showed a significant adjusted loss, with EPS of negative $0.43 versus expectations of negative $0.01, despite revenue of $281.71 million exceeding estimates.

Tilray Brands (NASDAQ:TLRY - Get Free Report) had its target price lowered by equities researchers at TD from $4.70 to $4.50 in a report released on Monday, BayStreet reports. The firm currently has a "buy" rating on the stock. TD's price objective would suggest a potential upside of 19.21% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Zacks Research cut shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 29th. Weiss Ratings cut Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 21st. Wall Street Zen downgraded Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. TD Securities raised Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. Finally, ATB Cormark Capital Markets dropped their price target on Tilray Brands from $8.00 to $6.00 and set a "hold" rating on the stock in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.38.

Tilray Brands Stock Performance

Shares of Tilray Brands stock traded up $0.17 on Monday, reaching $3.77. The stock had a trading volume of 3,512,853 shares, compared to its average volume of 4,209,323. The business's 50-day moving average price is $4.33 and its two-hundred day moving average price is $5.11. 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 has a fifty-two week low of $3.54 and a fifty-two week high of $23.20. The stock has a market cap of $514.15 million, a P/E ratio of -3.50 and a beta of 1.91.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) 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 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, sell-side analysts forecast that Tilray Brands will post -0.42 EPS for the current year.

Insider Activity

In related news, CFO Carl Merton acquired 10,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average price of $4.62 per share, with a total value of $46,200.00. Following the completion of the transaction, the chief financial officer owned 139,753 shares of the company's stock, valued at approximately $645,658.86. This represents a 7.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have bought 15,000 shares of company stock worth $69,225. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Tilray Brands during the 2nd quarter valued at about $2,073,000. Amundi acquired a new position in Tilray Brands in the second quarter worth about $131,000. Squarepoint Ops LLC bought a new position in Tilray Brands during the second quarter worth about $192,000. Integrated Wealth Concepts LLC bought a new position in Tilray Brands during the second quarter worth about $27,000. Finally, Engineers Gate Manager LP boosted its holdings in Tilray Brands by 124.1% during the second quarter. Engineers Gate Manager LP now owns 60,839 shares of the company's stock valued at $273,000 after purchasing an additional 33,688 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

Tilray Brands Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.