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

Key Points

• Analysts have a mixed view of Tilray Brands: the stock carries an average “Hold” rating from eight brokerages, with an average 12-month price target of $5.90.
• Tilray shares opened at $2.92, near their one-year low of $2.91, and remain well below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.02 per share but missed revenue expectations.
• Insiders and several institutional investors have recently increased their positions, including a 10,000-share purchase by CFO Carl Merton and new or expanded stakes from BlackRock, UBS and Dimensional Fund Advisors.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) have been assigned an average recommendation of "Hold" from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $5.90.

A number of research analysts have weighed in on the company. ATB Cormark Capital Markets decreased their price objective on Tilray Brands from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Monday, September 21st. Weiss Ratings raised shares of Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, October 8th. TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a research report on Friday, July 31st. TD Cowen reduced their target price 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. Finally, Zacks Research downgraded shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 29th.

Insider Buying and Selling

In other Tilray Brands news, CFO Carl Merton acquired 10,000 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the acquisition, the chief financial officer owned 139,753 shares in the company, valued at approximately $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have bought 15,000 shares of company stock valued at $69,225. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. BlackRock Inc. purchased a new stake in shares of Tilray Brands in the second quarter valued at approximately $2,073,000. Swiss National Bank increased its holdings in shares of Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company's stock valued at $1,491,000 after purchasing an additional 9,100 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tilray Brands by 6.1% in the second 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. Dimensional Fund Advisors LP increased its holdings in shares of Tilray Brands by 82.9% in the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company's stock valued at $568,000 after purchasing an additional 39,801 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Tilray Brands during the second quarter worth approximately $381,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Stock Performance

NASDAQ TLRY opened at $2.92 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.88 and a quick ratio of 1.11. The stock's 50 day simple moving average is $4.05 and its 200-day simple moving average is $4.82. The company has a market cap of $431.55 million, a PE ratio of -2.09 and a beta of 1.91. Tilray Brands has a 1-year low of $2.91 and a 1-year high of $15.70.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Thursday, October 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative return on equity of 10.39% and a negative net margin of 16.91%. The firm had revenue of $257.15 million during the quarter, compared to analysts' expectations of $266.26 million. As a group, equities research analysts anticipate 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 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.

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