Tilray Brands (NASDAQ:TLRY) Trading Up 3.6% – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price shot up 3.6% during trading on Friday . The stock traded as high as $4.94 and last traded at $4.84. Approximately 4,255,482 shares traded hands during trading, a decline of 1% from the average session volume of 4,297,825 shares. The stock had previously closed at $4.67.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TLRY shares. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD Cowen decreased their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Tilray Brands in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Tilray Brands has an average rating of “Moderate Buy” and an average price target of $11.00.

Tilray Brands Stock Up 3.6%

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 stock has a market capitalization of $659.21 million, a PE ratio of -4.48 and a beta of 1.90. The stock’s fifty day simple moving average is $4.48 and its 200-day simple moving average is $5.81.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS 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 firm had revenue of $281.71 million during the quarter, compared to analysts’ expectations of $246.30 million. As a group, sell-side analysts forecast that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In other news, CFO Carl A. Merton acquired 10,000 shares of Tilray Brands stock in a transaction on Tuesday, August 4th. The stock was acquired at an average cost of $4.62 per share, with a total value of $46,200.00. Following the transaction, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. This trade represents a 7.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have bought 15,000 shares of company stock valued at $69,225. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Tilray Brands during the fourth quarter valued at approximately $38,000. Cerity Partners LLC lifted its holdings in Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after acquiring an additional 45,929 shares during the period. Marex Group plc bought a new stake in Tilray Brands during the second quarter worth $40,000. Hilton Capital Management LLC purchased a new position in Tilray Brands in the second quarter worth $41,000. Finally, Deutsche Bank AG purchased a new position in Tilray Brands in the second quarter worth $44,000. Hedge funds and other 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.