Tilray Brands, Inc. (NASDAQ:TLRY) Receives $8.00 Average PT from Brokerages

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have earned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.00.

TLRY has been the topic of several research analyst reports. TD Cowen cut their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 24th. Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st.

Insider Transactions at Tilray Brands

In related news, CFO Carl Merton acquired 10,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were acquired at an average price of $4.62 per share, with a total value of $46,200.00. Following the completion of the transaction, the chief financial officer owned 139,753 shares in the company, valued at approximately $645,658.86. The trade was a 7.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 15,000 shares of company stock worth $69,225 in the last three months. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC grew its holdings in Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the period. Millennium Management LLC raised its stake in shares of Tilray Brands by 281.0% in 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. purchased a new position in shares of Tilray Brands during the 3rd quarter valued at $5,813,000. Ausdal Financial Partners Inc. bought a new position in shares of Tilray Brands during the 2nd quarter worth $939,000. Finally, Swiss National Bank increased its holdings in Tilray Brands by 4.4% in the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after acquiring an additional 84,900 shares during the last quarter. 9.35% of the stock is owned by institutional investors.

Tilray Brands Price Performance

Shares of NASDAQ TLRY opened at $4.30 on Wednesday. Tilray Brands has a twelve month low of $3.67 and a twelve month high of $23.20. The stock’s 50 day moving average price is $4.46 and its 200-day moving average price is $5.55. The company has a market capitalization of $585.66 million, a PE ratio of -3.98 and a beta of 1.92. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY) last released its earnings results 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). The business had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. On average, equities analysts anticipate that Tilray Brands will post -0.42 EPS for the current year.

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.