Tilray Brands (NASDAQ:TLRY) General Counsel Mitchell Gendel Acquires 2,500 Shares of Stock

Tilray Brands, Inc. (NASDAQ:TLRY) General Counsel Mitchell Gendel acquired 2,500 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was bought at an average price of $4.43 per share, with a total value of $11,075.00. Following the purchase, the general counsel directly owned 124,883 shares of the company’s stock, valued at $553,231.69. This represents a 2.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Tilray Brands Stock Performance

NASDAQ TLRY traded up $0.12 on Friday, reaching $4.55. The stock had a trading volume of 1,216,789 shares, compared to its average volume of 4,317,777. The stock has a market cap of $530.89 million, a P/E ratio of -4.23 and a beta of 1.90. The business’s 50-day moving average price is $4.60 and its 200 day moving average price is $6.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21. Tilray Brands, Inc. has a 12-month low of $3.67 and a 12-month high of $23.20.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The business had revenue of $281.71 million for the quarter, compared to analysts’ expectations of $246.30 million. As a group, equities analysts expect that Tilray Brands, Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Tilray Brands

A number of institutional investors have recently added to or reduced their stakes in TLRY. State of Wyoming purchased a new stake in shares of Tilray Brands during the 2nd quarter worth approximately $171,000. Essential Partners LLC grew its holdings in Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after purchasing an additional 8,811 shares during the last quarter. Entropy Technologies LP acquired a new stake in Tilray Brands in the first quarter valued at $123,000. Baader Bank Aktiengesellschaft increased its position in shares of Tilray Brands by 17.7% in the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after buying an additional 7,226 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Tilray Brands by 82.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after buying an additional 39,801 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Wall Street Analysts Forecast Growth

TLRY has been the subject of several analyst reports. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, TD Cowen cut their price target on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.00.

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.