Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.1% - Here's Why

Key Points

• Tilray Brands shares rose 1.1% to $3.61 in mid-day trading, though the price remains below its 50-day and 200-day moving averages of $4.34 and $5.14.
• Analyst sentiment is mixed but leans cautious: the consensus rating is “Hold” with a $7.00 price target, while several firms recently cut targets or downgraded the stock, including Zacks Research’s “Strong Sell” rating.
• Tilray reported a quarterly loss of $0.43 per share, significantly missing the expected $0.01 loss, despite revenue of $281.71 million exceeding estimates; its CFO and several institutional investors recently bought shares.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price shot up 1.1% during mid-day trading on Friday. The company traded as high as $3.65 and last traded at $3.61. Approximately 4,069,659 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 4,213,422 shares. The stock had previously closed at $3.57.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TLRY shares. TD Cowen cut their target price 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. ATB Cormark Capital Markets lowered their price objective on shares of Tilray Brands from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Monday, September 21st. Wall Street Zen cut shares of Tilray Brands from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Weiss Ratings downgraded shares of Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 21st. Finally, Zacks Research lowered shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.00.

Tilray Brands Stock Up 1.1%

The firm has a fifty day moving average of $4.34 and a 200-day moving average of $5.14. 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 firm has a market cap of $491.68 million, a P/E ratio of -3.34 and a beta of 1.91.

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

Insiders Place Their Bets

In other news, CFO Carl Merton purchased 10,000 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were purchased at an average cost 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 $645,658.86. The trade was a 7.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 15,000 shares of company stock worth $69,225 in the last 90 days. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. BlackRock Inc. bought a new stake in Tilray Brands in the second quarter valued at approximately $2,073,000. Hsbc Holdings PLC bought a new position in shares of Tilray Brands during the 2nd quarter worth approximately $182,000. Ieq Capital LLC bought a new position in shares of Tilray Brands during the 2nd quarter worth approximately $146,000. State of Wyoming acquired a new position in shares of Tilray Brands during the 2nd quarter worth approximately $171,000. Finally, Essential Partners LLC increased its holdings in shares of Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company's stock worth $57,000 after acquiring an additional 8,811 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

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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