Insider Buying: Tilray Brands (NASDAQ:TLRY) CFO Purchases $46,200.00 in Stock

Key Points

• Tilray CFO Carl Merton bought 10,000 shares at an average price of $4.62, investing $46,200 and increasing his direct holdings by 7.71% to 139,753 shares.
• Tilray shares rose 0.5% to $4.67, but the company reported a quarterly loss of $0.43 per share, missing estimates by $0.42 despite revenue of $281.71 million exceeding expectations.
• Analyst views remain mixed, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $11.00; institutional investors and hedge funds own 9.35% of the shares.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) CFO Carl Merton purchased 10,000 shares of the business's stock in a transaction on 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 acquisition, the chief financial officer directly owned 139,753 shares in the company, valued at $645,658.86. The trade was a 7.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Tilray Brands Trading Up 0.5%

Shares of Tilray Brands stock traded up $0.03 during trading hours on Tuesday, reaching $4.67. 5,325,711 shares of the company's stock were exchanged, compared to its average volume of 4,332,216. Tilray Brands, Inc. has a 52-week low of $3.67 and a 52-week high of $23.20. The company has a fifty day moving average of $4.66 and a 200-day moving average of $6.20. 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 firm has a market capitalization of $543.71 million, a price-to-earnings ratio of -4.32 and a beta of 1.90.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.42). The business had revenue of $281.71 million during the quarter, compared to analysts' expectations of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. Sell-side analysts forecast that Tilray Brands, Inc. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after acquiring an additional 3,776,410 shares in the last quarter. Millennium Management LLC boosted its position in Tilray Brands by 281.0% during the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock worth $8,550,000 after purchasing an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Tilray Brands in the 3rd quarter valued at $5,813,000. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands in the second quarter valued at about $939,000. Finally, Scientech Research LLC acquired a new position in shares of Tilray Brands during the third quarter worth about $1,748,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TLRY. Weiss Ratings downgraded shares of Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a report on Friday. Wall Street Zen lowered shares of Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, TD Cowen cut their price target on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $11.00.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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