Tilray Brands (NASDAQ:TLRY) Trading Up 3.4% - Time to Buy?

Key Points

• Tilray shares rose 3.4% to $4.88 in midday trading, above the 50-day moving average of $4.48 but below the 200-day average of $5.78.
• Analyst sentiment is mixed: the consensus rating remains “Hold” with an average price target of $8.00, while recent actions included a TD Securities upgrade to “Strong Buy” and downgrades from other firms.
• Tilray reported a quarterly loss of $0.43 per share, far worse than the expected $0.01 loss, despite revenue of $281.71 million exceeding estimates; insiders have purchased 15,000 shares over the past three months.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price rose 3.4% during trading on Tuesday . The company traded as high as $4.95 and last traded at $4.88. Approximately 3,471,468 shares were traded during mid-day trading, a decline of 19% from the average session volume of 4,289,893 shares. The stock had previously closed at $4.72.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. TD Securities raised shares of Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. TD Cowen cut their price objective 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 reissued a "sell (e+)" rating on shares of Tilray Brands in a research note on Friday, August 7th. Finally, Wall Street Zen cut Tilray Brands from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.00.

Tilray Brands Stock Performance

The firm's 50 day simple moving average is $4.48 and its 200-day simple moving average is $5.78. The company has a market capitalization of $666.02 million, a price-to-earnings ratio of -4.53 and a beta of 1.90. 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 quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The business had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. Analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current year.

Insider Activity

In related news, CFO Carl A. Merton bought 10,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, with a total value of $46,200.00. Following the purchase, the chief financial officer directly owned 139,753 shares of the company's stock, valued at approximately $645,658.86. This represents a 7.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have acquired 15,000 shares of company stock worth $69,225. Company insiders own 0.84% of the company's stock.

Institutional Trading of Tilray Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after buying an additional 575,757 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Tilray Brands during the second quarter worth approximately $112,000. Cerity Partners LLC boosted its holdings in Tilray Brands by 98.5% in the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company's stock valued at $38,000 after purchasing an additional 45,929 shares during the period. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands during the second quarter worth about $939,000. Finally, Bank of America Corp DE grew its holdings in shares of Tilray Brands by 26.5% during the 2nd quarter. Bank of America Corp DE now owns 311,810 shares of the company's stock worth $129,000 after purchasing an additional 65,379 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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