Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.3% - Here's What Happened

Key Points

• Tilray Brands shares rose 1.3% to $3.99 in Friday trading, despite volume running 27% below the average session level.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $8.00; recent firms both lowered targets and upgraded the stock.
• The company’s latest quarter included a significant earnings miss, reporting a loss of $0.43 per share versus expectations of a $0.01 loss, although revenue of $281.71 million exceeded estimates.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price rose 1.3% during trading on Friday . The stock traded as high as $4.00 and last traded at $3.99. Approximately 3,078,421 shares were traded during mid-day trading, a decline of 27% from the average session volume of 4,217,625 shares. The stock had previously closed at $3.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TLRY shares. Wall Street Zen lowered Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. TD Cowen lowered 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 report on Tuesday, July 14th. Weiss Ratings raised shares of Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 24th. Finally, TD Securities raised shares of Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. 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 given a Sell rating to the company's stock. According to data from MarketBeat, Tilray Brands currently has a consensus rating of "Hold" and an average target price of $8.00.

Tilray Brands Trading Up 1.3%

The company has a 50 day moving average price of $4.40 and a 200 day moving average price of $5.36. The firm has a market cap of $543.44 million, a price-to-earnings ratio of -3.69 and a beta of 1.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The company had revenue of $281.71 million for the quarter, compared to analysts' expectations 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, research analysts expect that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Transactions at Tilray Brands

In other news, CFO Carl Merton purchased 10,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were bought at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the purchase, the chief financial officer directly owned 139,753 shares of the company's stock, valued at approximately $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 15,000 shares of company stock valued at $69,225 over the last 90 days. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new stake in Tilray Brands during the 4th quarter worth approximately $4,855,000. BlackRock Inc. purchased a new position in Tilray Brands in the second quarter valued at $2,073,000. Swiss National Bank grew its stake in Tilray Brands by 4.1% during the 1st quarter. Swiss National Bank now owns 230,503 shares of the company's stock worth $1,491,000 after purchasing an additional 9,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tilray Brands by 6.1% during 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 worth $935,000 after purchasing an additional 11,894 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 39,801 shares during the period. Institutional investors and hedge funds own 9.35% of the company's stock.

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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