Tilray Brands, Inc. (NASDAQ:TLRY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Tilray Brands, with three buy ratings, one strong-buy, three holds and one sell. The average 12-month price target is $11.00, versus the stock’s reported $4.57 opening price.
• Tilray’s latest quarterly results were mixed: revenue of $281.71 million exceeded estimates, but adjusted EPS of negative $0.43 missed the consensus estimate of negative $0.01 by $0.42. Analysts expect a full-year loss of approximately $0.40 per share.
• Recent developments include a 10,000-share purchase by CFO Carl Merton and increased institutional ownership, while the stock remains down substantially from its 52-week high of $23.20 and has negative profitability metrics.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) have been given an average rating of "Moderate Buy" by the eight brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $11.00.

TLRY has been the topic of a number of research analyst reports. Weiss Ratings downgraded Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. TD Cowen decreased their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Finally, TD Securities raised Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st.

Tilray Brands Trading Up 2.9%

Tilray Brands stock opened at $4.57 on Friday. Tilray Brands has a 52 week low of $3.67 and a 52 week high of $23.20. 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 firm has a market capitalization of $532.63 million, a price-to-earnings ratio of -4.23 and a beta of 1.90. The company has a 50 day moving average price of $4.58 and a 200 day moving average price of $6.08.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) 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 analyst estimates of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. Research analysts forecast that Tilray Brands will post -0.4 EPS for the current year.

Insider Activity

In related news, CFO Carl A. Merton purchased 10,000 shares of the firm's stock in a transaction that occurred on 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 acquisition, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. This trade represents a 7.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 15,000 shares of company stock valued at $69,225 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TLRY. Tidal Investments LLC grew its stake in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after purchasing an additional 3,776,410 shares in the last quarter. Millennium Management LLC increased its position in Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock worth $8,550,000 after purchasing an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tilray Brands during the 3rd quarter worth about $5,813,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Tilray Brands during the 2nd quarter worth about $939,000. Finally, Scientech Research LLC acquired a new stake in shares of Tilray Brands during the 3rd quarter valued at about $1,748,000. Institutional investors and hedge funds own 9.35% of the company's stock.

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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