Tilray Brands (NASDAQ:TLRY) Shares Up 3.6% - Here's What Happened

Key Points

• Tilray shares rose 3.6% to $4.84 in Friday trading, with the move occurring on volume roughly in line with the company’s average.
• Analyst sentiment remains mixed but leans positive: Tilray has a consensus “Moderate Buy” rating and an $11 target price, despite recent rating downgrades and price-target cuts.
• The company’s latest quarter showed revenue of $281.71 million, above estimates, but an adjusted loss of $0.43 per share that significantly missed expectations. CFO Carl Merton also purchased 10,000 shares, while institutional investors own 9.35% of the stock.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 3.6% on Friday . The company traded as high as $4.94 and last traded at $4.84. 4,255,482 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 4,297,825 shares. The stock had previously closed at $4.67.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Tilray Brands in a research report on Friday, August 7th. TD Cowen lowered their price objective on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. TD Securities raised shares of Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. Finally, Wall Street Zen cut shares of Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Tilray Brands currently has an average rating of "Moderate Buy" and a consensus target price of $11.00.

Tilray Brands Price Performance

The firm has a market capitalization of $659.23 million, a P/E ratio of -4.48 and a beta of 1.90. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $4.48 and a 200-day moving average price of $5.82.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released 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). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The company had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. On average, analysts expect that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Carl A. Merton acquired 10,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were acquired at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the transaction, the chief financial officer directly owned 139,753 shares of the company's stock, valued at approximately $645,658.86. The trade was a 7.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 15,000 shares of company stock worth $69,225 over the last ninety days. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors have recently made changes to their positions in TLRY. Hilton Head Capital Partners LLC bought a new position in Tilray Brands during the 4th quarter valued at about $38,000. Cerity Partners LLC lifted its stake in Tilray Brands by 98.5% in the second quarter. Cerity Partners LLC now owns 92,560 shares of the company's stock worth $38,000 after purchasing an additional 45,929 shares during the last quarter. Marex Group plc bought a new stake in Tilray Brands in the second quarter worth about $40,000. Hilton Capital Management LLC purchased a new position in shares of Tilray Brands during the second quarter valued at approximately $41,000. Finally, Deutsche Bank AG purchased a new position in shares of Tilray Brands during the second quarter valued at approximately $44,000. Institutional investors 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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