Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.3% – Still a Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) shot up 1.3% on Friday . The company traded as high as $4.00 and last traded at $3.99. Approximately 3,078,421 shares were traded during trading, a decline of 27% from the average session volume of 4,217,625 shares. The stock had previously closed at $3.94.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TLRY shares. TD Cowen decreased their price target on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.00.

Tilray Brands Stock Up 1.3%

The firm has a market cap of $543.44 million, a PE ratio of -3.69 and a beta of 1.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21. The firm’s 50-day moving average price is $4.40 and its two-hundred day moving average price is $5.36.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $246.30 million. As a group, equities research analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In other news, CFO Carl Merton purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were bought 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 directly owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 15,000 shares of company stock worth $69,225. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

A number of large investors have recently bought and sold shares of the business. Engineers Gate Manager LP increased its stake in Tilray Brands by 124.1% in the second quarter. Engineers Gate Manager LP now owns 60,839 shares of the company’s stock valued at $273,000 after purchasing an additional 33,688 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Tilray Brands during the second quarter worth about $27,000. Squarepoint Ops LLC purchased a new position in shares of Tilray Brands during the second quarter worth about $192,000. Amundi purchased a new position in shares of Tilray Brands during the second quarter worth about $131,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Tilray Brands in the 2nd quarter valued at about $75,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.