Tilray Brands (NASDAQ:TLRY) Price Target Lowered to $6.00 at ATB Cormark Capital Markets

Key Points

• ATB Cormark lowered Tilray Brands’ price target from $8.00 to $6.00 while maintaining a “sector perform” rating, implying roughly 47% upside from the $4.08 share price.
• Analyst sentiment is mixed, with Tilray carrying a consensus “Hold” rating and an average price target of $7.00. Recent actions included TD Cowen cutting its target to $5.00 and Wall Street Zen downgrading the stock to “sell.”
• Tilray reported a quarterly loss of $0.43 per share, missing estimates by $0.42, despite revenue of $281.71 million exceeding expectations. The company’s shares remain near their 52-week low of $3.67, while insiders have purchased 15,000 shares over the past 90 days.

Tilray Brands (NASDAQ:TLRY - Get Free Report) had its target price cut by analysts at ATB Cormark Capital Markets from $8.00 to $6.00 in a research note issued to investors on Monday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective would indicate a potential upside of 46.88% from the company's current price.

Other analysts have also issued reports about the company. TD Cowen lowered their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. Weiss Ratings upgraded Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 24th. Finally, Wall Street Zen cut Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tilray Brands presently has a consensus rating of "Hold" and an average target price of $7.00.

Tilray Brands Price Performance

Shares of TLRY traded up $0.10 during mid-day trading on Monday, reaching $4.08. 2,698,844 shares of the company's stock were exchanged, compared to its average volume of 4,209,563. The company has a market cap of $556.38 million, a price-to-earnings ratio of -3.77 and a beta of 1.92. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $4.39 and a two-hundred day simple moving average of $5.34. Tilray Brands has a 52-week low of $3.67 and a 52-week high of $23.20.

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

Insider Activity

In related news, CFO Carl Merton purchased 10,000 shares of the company's stock in a transaction 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 completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have purchased 15,000 shares of company stock valued at $69,225. Insiders own 0.84% of the company's stock.

Institutional Trading of Tilray Brands

A number of hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in Tilray Brands in the 4th quarter worth approximately $4,855,000. BlackRock Inc. purchased a new position in Tilray Brands in the second quarter valued at about $2,073,000. Swiss National Bank raised its position in Tilray Brands by 4.1% during the first quarter. Swiss National Bank now owns 230,503 shares of the company's stock valued at $1,491,000 after acquiring an additional 9,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tilray Brands by 6.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company's stock valued at $935,000 after purchasing an additional 11,894 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Tilray Brands by 82.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company's stock worth $568,000 after acquiring an additional 39,801 shares in the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.

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