Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.5% - Time to Buy?

Key Points

• Tilray shares rose 1.5% to $4.13 in Friday trading, though volume was about 51% below the daily average.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $7.00; recent firms both upgraded the stock and cut their targets or downgraded their ratings.
• The company reported a significant quarterly EPS miss of $0.43 versus an expected loss of $0.01, despite revenue exceeding estimates. CFO Carl Merton and other insiders purchased 15,000 shares over the past 90 days.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 1.5% during trading on Friday. The stock traded as high as $4.16 and last traded at $4.13. Approximately 2,046,960 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 4,184,878 shares. The stock had previously closed at $4.07.

Wall Street Analyst Weigh In

Several research firms recently commented on TLRY. ATB Cormark Capital Markets cut their price target on Tilray Brands from $8.00 to $6.00 and set a "hold" rating for the company in a report on Monday. TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. TD Cowen reduced their target price on Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings downgraded Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.00.

Tilray Brands Stock Performance

The firm has a market capitalization of $562.51 million, a price-to-earnings ratio of -3.82 and a beta of 1.92. The company has a 50-day moving average price of $4.37 and a 200-day moving average price of $5.25. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) 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 business had revenue of $281.71 million during the quarter, compared to analysts' expectations of $246.30 million. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Carl Merton purchased 10,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of $4.62 per share, with a total value of $46,200.00. Following the completion of the purchase, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. This represents a 7.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 15,000 shares of company stock valued at $69,225 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Tilray Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new stake in shares of Tilray Brands in the fourth quarter worth $4,855,000. BlackRock Inc. purchased a new stake in Tilray Brands in the 2nd quarter worth about $2,073,000. Swiss National Bank boosted its position 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 acquiring an additional 9,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tilray Brands by 82.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company's stock worth $568,000 after acquiring an additional 39,801 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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