Tilray Brands (NASDAQ:TLRY) Shares Up 3.3% - Still a Buy?

Key Points

• Tilray Brands shares rose 3.3% to $1.42, though trading volume was down significantly at 17.24 million shares compared to an average of over 42 million shares.
• Analyst ratings on Tilray show mixed opinions, with Jefferies raising their price target to $2.00, while Wall Street Zen downgraded the stock to a "strong sell," resulting in a consensus rating of "Hold" with an average target price of $1.94.
• Tilray reported a revenue of $224.54 million in its latest quarterly earnings, falling short of the $250.41 million consensus estimate, while posting an EPS of $0.02 that exceeded estimates.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded up 3.3% on Thursday . The stock traded as high as $1.42 and last traded at $1.42. 17,242,536 shares changed hands during trading, a decline of 59% from the average session volume of 42,200,359 shares. The stock had previously closed at $1.37.

Analyst Ratings Changes

TLRY has been the topic of several research reports. Jefferies Financial Group raised their price objective on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Finally, Wall Street Zen cut Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $1.94.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The company has a market capitalization of $1.59 billion, a PE ratio of -0.63 and a beta of 1.85. The stock has a 50-day simple moving average of $0.72 and a 200 day simple moving average of $0.62.

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

Insider Activity

In related news, CEO Irwin D. Simon acquired 165,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $0.61 per share, with a total value of $100,650.00. Following the completion of the purchase, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds have recently modified their holdings of TLRY. Lido Advisors LLC purchased a new position in Tilray Brands during the fourth quarter worth about $28,000. J.W. Cole Advisors Inc. raised its stake in shares of Tilray Brands by 203.2% during the second 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 during the period. Cerity Partners LLC bought a new stake in shares of Tilray Brands in the first quarter worth $31,000. Capital Management Associates Inc raised 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 increased its holdings 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 acquiring an additional 40,000 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.

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