Tilray Brands (NASDAQ:TLRY) Given New $2.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group has raised its price target for Tilray Brands from $1.50 to $2.00, suggesting a potential upside of 46.63% from its current price and maintaining a "buy" rating.
• Tilray reported earnings of $0.02 per share, beating analysts' expectations, despite having a negative net margin of 265.69% and revenues that fell short of consensus estimates.
• CEO Irwin D. Simon purchased 165,000 shares at an average cost of $0.61, increasing his ownership stake in the company significantly.

Tilray Brands (NASDAQ:TLRY - Get Free Report) had its price target raised by research analysts at Jefferies Financial Group from $1.50 to $2.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price objective suggests a potential upside of 46.63% from the stock's current price.

A number of other research analysts have also recently issued reports on TLRY. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $1.94.

Tilray Brands Price Performance

Shares of NASDAQ TLRY traded up $0.2140 during trading on Monday, reaching $1.3640. The company had a trading volume of 53,551,371 shares, compared to its average volume of 40,771,250. Tilray Brands has a 52 week low of $0.3507 and a 52 week high of $1.94. The stock has a market cap of $1.50 billion, a PE ratio of -0.59 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. The business's 50 day moving average price is $0.66 and its 200-day moving average price is $0.61.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.05. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The company had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. Analysts expect that Tilray Brands will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the transaction, the chief executive officer owned 3,941,633 shares in the company, valued at $2,404,396.13. The trade was a 4.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Hedge funds have recently bought and sold shares of the company. Lido Advisors LLC bought a new position in Tilray Brands in the 4th quarter valued at about $28,000. J.W. Cole Advisors Inc. boosted its stake in shares of Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock valued at $30,000 after purchasing an additional 48,177 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Tilray Brands in the 1st quarter valued at approximately $31,000. Capital Management Associates Inc boosted its stake in shares of Tilray Brands by 100.0% in the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after purchasing an additional 25,380 shares in the last quarter. Finally, Fifth Lane Capital LP boosted its stake in shares of Tilray Brands by 400.0% in the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after purchasing an additional 40,000 shares in the last quarter. 9.35% of the stock is owned by institutional investors.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.