Tilray Brands (NASDAQ:TLRY) Trading 3.9% Higher - Time to Buy?

Key Points

• Tilray Brands (NASDAQ: TLRY) experienced a trading increase of 3.9%, closing at $0.59 with a significant drop in trading volume to 6.3 million shares.
• Analysts have issued mixed ratings on Tilray Brands, with Piper Sandler lowering its price target to $1.00 and one analyst giving a buy rating, while several others have a "neutral" or "strong sell" stance.
• CEO Irwin D. Simon bought 165,000 shares at $0.61 per share, indicating strong insider confidence, though overall company performance remains challenged with a negative net margin of 265.69% for the last quarter.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded up 3.9% during trading on Monday . The company traded as high as $0.61 and last traded at $0.59. 6,314,871 shares changed hands during trading, a decline of 82% from the average session volume of 35,602,195 shares. The stock had previously closed at $0.57.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TLRY. Piper Sandler cut their price objective on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a research report on Monday, April 14th. Finally, Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $1.92.

Tilray Brands Stock Up 6.0%

The business's 50 day moving average is $0.51 and its 200 day moving average is $0.63. The company has a market capitalization of $606.92 million, a price-to-earnings ratio of -0.26 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.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating the consensus estimate 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 business had revenue of $224.54 million during the quarter, compared to analysts' expectations of $250.41 million. Sell-side analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Irwin D. Simon bought 165,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the purchase, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Institutional Trading of Tilray Brands

Several institutional investors have recently bought and sold shares of the business. Tidal Investments LLC increased its stake in shares of Tilray Brands by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after purchasing an additional 889,086 shares in the last quarter. Quinn Opportunity Partners LLC grew its holdings in shares of Tilray Brands by 108.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after buying an additional 840,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tilray Brands by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after buying an additional 769,569 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Tilray Brands during the fourth quarter worth $879,000. Finally, AQR Capital Management LLC grew its holdings in shares of Tilray Brands by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after buying an additional 575,757 shares in 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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