Tilray Brands (NASDAQ:TLRY) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Tilray Brands' stock rating was upgraded from a "strong sell" to a "hold" by Wall Street Zen, while other analysts maintain a mixed view with two "buy" ratings, three "hold" ratings, and one "sell" rating.
• The company's stock has seen a significant decline, with a 18.1% drop recently, and currently has a market capitalization of $1.89 billion.
• CEO Irwin D. Simon purchased 165,000 shares at an average price of $0.61, increasing his ownership to roughly $2.4 million worth of stock.

Tilray Brands (NASDAQ:TLRY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Other analysts also recently issued research reports about the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $2.00.

Tilray Brands Stock Down 18.1%

TLRY stock opened at $1.72 on Friday. The company has a market cap of $1.89 billion, a P/E ratio of -0.76 and a beta of 1.98. Tilray Brands has a 52 week low of $0.35 and a 52 week high of $2.32. The company's 50-day moving average price is $1.24 and its 200 day moving average price is $0.76. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.05. The firm had revenue of $224.54 million for the quarter, compared to the consensus estimate of $250.41 million. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.11%. On average, research analysts expect that Tilray Brands will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $0.61 per share, with a total value of $100,650.00. Following the completion of the acquisition, the chief executive officer directly owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently modified their holdings of the company. Cerity Partners LLC purchased a new position in shares of Tilray Brands during the first quarter valued at approximately $31,000. Fifth Lane Capital LP lifted its stake in shares of Tilray Brands by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after buying an additional 40,000 shares during the period. Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands during the first quarter valued at approximately $33,000. Capital Management Associates Inc lifted its stake in shares of Tilray Brands by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after buying an additional 25,380 shares during the period. Finally, Garde Capital Inc. purchased a new position in shares of Tilray Brands during the first quarter valued at approximately $46,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

About Tilray Brands

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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