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

Tilray Brands, Inc. (NASDAQ:TLRY) General Counsel Mitchell Gendel acquired 2,500 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $4.43 per share, with a total value of $11,075.00. Following the acquisition, the general counsel directly owned 124,883 shares in the company, valued at approximately $553,231.69. This trade represents a 2.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Tilray Brands Stock Performance

Shares of NASDAQ:TLRY opened at $4.57 on Friday. Tilray Brands, Inc. has a 12-month low of $3.67 and a 12-month high of $23.20. The company’s 50 day moving average price is $4.58 and its two-hundred day moving average price is $6.08. The firm has a market cap of $532.63 million, a PE ratio of -4.23 and a beta of 1.90. 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 issued its quarterly 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). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The company had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. Equities research analysts predict that Tilray Brands, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on TLRY. TD Cowen decreased their price target 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. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC acquired a new stake in Tilray Brands in the fourth quarter valued at about $38,000. Cerity Partners LLC raised its stake 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 in the last quarter. Marex Group plc bought a new position in shares of Tilray Brands in the second quarter worth about $40,000. Hilton Capital Management LLC acquired a new stake in shares of Tilray Brands in the 2nd quarter valued at approximately $41,000. Finally, Deutsche Bank AG acquired a new stake in shares of Tilray Brands in the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds 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.