Tilray Brands (NASDAQ:TLRY) Trading Up 2.9% - Should You Buy?

Key Points

• Tilray shares rose 2.9% to $4.57 in mid-day trading, although volume was 22% below the average session level. The stock remains below its 200-day moving average of $6.09 and has a market capitalization of about $533 million.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and an $11.00 price target. Recent actions included a TD Securities upgrade to “strong buy,” while TD Cowen lowered its target to $5.00 and other firms issued sell downgrades.
• Tilray’s latest quarter showed revenue of $281.7 million, beating estimates, but an EPS loss of $0.43 significantly missed expectations of a $0.01 loss. CFO Carl Merton purchased 10,000 shares, while institutional investors collectively own 9.35% of the company.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 2.9% during mid-day trading on Friday . The stock traded as high as $4.62 and last traded at $4.57. 3,372,967 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 4,331,799 shares. The stock had previously closed at $4.44.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. TD Securities raised Tilray Brands to a "strong-buy" rating in a research report on Friday, July 31st. Weiss Ratings cut Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 13th. TD Cowen reduced their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Finally, Wall Street Zen lowered Tilray Brands from a "hold" rating to a "sell" rating in a research report 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 assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.00.

Tilray Brands Trading Up 2.9%

The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $4.60 and a 200 day moving average of $6.09. The firm has a market cap of $532.63 million, a PE ratio of -4.23 and a beta of 1.90.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.42). The firm had revenue of $281.71 million during the quarter, compared to analysts' expectations of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. Equities analysts anticipate that Tilray Brands, Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Tilray Brands

In other news, CFO Carl A. Merton purchased 10,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the purchase, the chief financial officer owned 139,753 shares of the company's stock, valued at $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 15,000 shares of company stock worth $69,225. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

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

About Tilray Brands

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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