Tilray Brands, Inc. (NASDAQ:TLRY) Stock Now Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts give Tilray Brands an average “Hold” rating, with one sell, three hold, two buy and one strong-buy recommendation. The average 12-month price target is $7.00.
• Tilray shares opened at $4.13, near the lower end of their 52-week range of $3.67 to $23.20. The company reported a quarterly loss of $0.43 per share, missing estimates, although revenue of $281.71 million exceeded forecasts.
• Insider and institutional activity was positive: CFO Carl Merton bought 10,000 shares, while hedge funds and institutions—including Engineers Gate Manager LP—added to their positions.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) has received an average rating of "Hold" from the seven ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.00.

A number of equities analysts have issued reports on the company. TD Securities raised Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. TD Cowen cut their price target on Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings cut Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a 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. Finally, ATB Cormark Capital Markets lowered their price objective on Tilray Brands from $8.00 to $6.00 and set a "hold" rating for the company in a research note on Monday, September 21st.

Tilray Brands Trading Up 1.5%

Shares of TLRY stock opened at $4.13 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a market cap of $562.52 million, a P/E ratio of -3.82 and a beta of 1.92. The stock has a 50 day simple moving average of $4.37 and a 200 day simple moving average of $5.24. Tilray Brands has a 1 year low of $3.67 and a 1 year high of $23.20.

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

Insider Activity

In other news, CFO Carl Merton purchased 10,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was purchased 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 $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 15,000 shares of company stock worth $69,225 in the last ninety days. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

Institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP increased its holdings in Tilray Brands by 124.1% during the 2nd quarter. Engineers Gate Manager LP now owns 60,839 shares of the company's stock worth $273,000 after purchasing an additional 33,688 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Tilray Brands in the second quarter valued at approximately $27,000. Squarepoint Ops LLC purchased a new position in shares of Tilray Brands during the second quarter valued at approximately $192,000. Amundi bought a new stake in Tilray Brands during the second quarter worth $131,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Tilray Brands in the 2nd quarter valued at $75,000. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray Brands

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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