Tilray Brands (NASDAQ:TLRY) Trading Up 3.7% - Time to Buy?

Key Points

• Tilray Brands shares rose 3.7% to $4.23 during Tuesday trading, though the stock remains below its 50-day and 200-day moving averages of $4.38 and $5.31, respectively.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $7.00. Recent updates included a target cut from ATB Cormark to $6.00 and a “Strong Buy” upgrade from TD Securities.
• Tilray missed quarterly earnings expectations, reporting a $0.43 loss per share versus the forecasted $0.01 loss, despite revenue of $281.7 million exceeding estimates. The company had a negative net margin of 13.11%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price shot up 3.7% during trading on Tuesday . The stock traded as high as $4.29 and last traded at $4.23. 4,196,263 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 4,215,176 shares. The stock had previously closed at $4.08.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TLRY. ATB Cormark Capital Markets lowered their price objective on Tilray Brands from $8.00 to $6.00 and set a "hold" rating for the company in a research note on Monday. TD Securities upgraded Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 24th. TD Cowen dropped their price target on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut shares of Tilray Brands from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Tilray Brands presently has an average rating of "Hold" and an average target price of $7.00.

Tilray Brands Trading Up 3.7%

The firm's fifty day moving average price is $4.38 and its 200-day moving average price is $5.31. The company has a market cap of $576.13 million, a price-to-earnings ratio of -3.92 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.

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 firm 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%. On average, equities analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Carl Merton acquired 10,000 shares of Tilray Brands stock in a transaction dated Tuesday, August 4th. The stock was acquired 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 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders purchased 15,000 shares of company stock valued at $69,225. 0.84% of the stock is currently owned by insiders.

Institutional Trading of Tilray Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. acquired a new position in Tilray Brands in the fourth quarter worth $4,855,000. BlackRock Inc. acquired a new stake in Tilray Brands in the 2nd quarter valued at about $2,073,000. Swiss National Bank increased its position in Tilray Brands by 4.1% in the 1st 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 worth $935,000 after acquiring an additional 11,894 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Tilray Brands by 82.9% in the first 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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