Tilray Brands (NASDAQ:TLRY) Stock Price Up 3% - Time to Buy?

Key Points

• Tilray shares rose 3% to $4.14 in mid-day trading, but remained below both the 50-day moving average of $4.43 and the 200-day average of $5.47.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an $8.00 price target, with ratings ranging from Strong Buy to Sell.
• Tilray exceeded revenue expectations with $281.71 million for the latest quarter but reported a much larger-than-expected loss of $0.43 per share; insiders have recently purchased shares, including a 10,000-share buy by the CFO.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price rose 3% during trading on Monday . The company traded as high as $4.24 and last traded at $4.14. 4,365,796 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 4,239,479 shares. The stock had previously closed at $4.02.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TLRY. TD Securities raised shares of Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. TD Cowen lowered their price target 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. Wall Street Zen lowered Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $8.00.

Tilray Brands Price Performance

The stock has a market capitalization of $563.88 million, a PE ratio of -3.83 and a beta of 1.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The firm's 50 day simple moving average is $4.43 and its 200 day simple moving average is $5.47.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its 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 business had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. As a group, equities analysts forecast that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In related news, CFO Carl Merton acquired 10,000 shares of Tilray Brands stock in a transaction dated 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 purchase, the chief financial officer owned 139,753 shares of the company's stock, valued at $645,658.86. This represents a 7.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 15,000 shares of company stock worth $69,225 in the last ninety days. Corporate insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. bought a new stake in Tilray Brands in the fourth quarter valued at approximately $4,855,000. California State Teachers Retirement System grew its holdings in shares of Tilray Brands by 440.6% in the second quarter. California State Teachers Retirement System now owns 546,518 shares of the company's stock worth $2,454,000 after purchasing an additional 445,414 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Tilray Brands in the second quarter worth $2,073,000. Swiss National Bank increased its stake 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 valued at $935,000 after buying an additional 11,894 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

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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