Tilray Brands (NASDAQ:TLRY) Stock Price Up 2.3% - Time to Buy?

Key Points

• Tilray Brands shares rose 2.3% to $4.08, but remain below their 50-day and 200-day moving averages of $4.39 and $5.34, respectively.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $7.00. Recent firms lowered targets, although TD Securities upgraded the stock to “strong buy.”
• The company reported a significant quarterly EPS miss, losing $0.43 versus expectations of a $0.01 loss, despite revenue exceeding forecasts; insiders bought 15,000 shares during the last quarter.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price shot up 2.3% on Monday . The company traded as high as $4.10 and last traded at $4.08. 3,601,380 shares were traded during trading, a decline of 15% from the average daily volume of 4,213,675 shares. The stock had previously closed at $3.99.

Analyst Ratings Changes

TLRY has been the topic of a number of research analyst reports. TD Cowen decreased their target price on 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 upgraded Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 24th. Wall Street Zen downgraded Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. ATB Cormark Capital Markets decreased their price objective on Tilray Brands from $8.00 to $6.00 and set a "sector perform" rating on the stock in a report on Monday. Finally, TD Securities raised shares of Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.00.

Tilray Brands Trading Up 2.3%

The stock has a fifty day moving average of $4.39 and a 200-day moving average of $5.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21. The company has a market cap of $555.70 million, a PE ratio of -3.78 and a beta of 1.92.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The company had revenue of $281.71 million during 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%. Sell-side analysts anticipate that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In other news, CFO Carl Merton bought 10,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was 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 in the company, valued at approximately $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have bought 15,000 shares of company stock valued at $69,225. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

Hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. purchased a new stake in Tilray Brands during the 4th quarter worth approximately $4,855,000. BlackRock Inc. purchased a new position in shares of Tilray Brands in the second quarter worth $2,073,000. Swiss National Bank raised its holdings 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 worth $1,491,000 after buying an additional 9,100 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tilray Brands by 6.1% during 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 worth $935,000 after buying an additional 11,894 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Tilray Brands by 82.9% during the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company's stock worth $568,000 after buying an additional 39,801 shares during the period. Institutional investors and hedge funds 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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