Tilray Brands, Inc. (NASDAQ:TLRY) Stock Has Consensus Price Target of $7.00

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have received an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.00.

Several research firms have commented on TLRY. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 21st. TD Cowen reduced their price objective 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. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, ATB Cormark Capital Markets lowered their target price on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, September 21st.

Insider Buying and Selling

In related news, CFO Carl Merton acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the completion of the acquisition, the chief financial officer directly owned 139,753 shares of the company’s stock, valued at $645,658.86. This represents a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have purchased 15,000 shares of company stock valued at $69,225. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tilray Brands

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Tilray Brands in the second quarter worth about $2,073,000. Hillsdale Investment Management Inc. acquired a new stake in Tilray Brands in the 4th quarter valued at about $4,855,000. Ieq Capital LLC purchased a new position in Tilray Brands in the 2nd quarter worth approximately $146,000. State of Wyoming acquired a new position in shares of Tilray Brands during the 2nd quarter worth approximately $171,000. Finally, Essential Partners LLC boosted its holdings in shares of Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Stock Up 1.1%

Shares of NASDAQ:TLRY opened at $3.61 on Friday. Tilray Brands has a 1 year low of $3.54 and a 1 year high of $23.20. The business has a 50 day simple moving average of $4.33 and a two-hundred day simple moving average of $5.13. The firm has a market capitalization of $491.68 million, a PE ratio of -3.34 and a beta of 1.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37.

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

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company focused on cannabis, beverage alcohol, wellness and consumer products. The company develops, produces, distributes and markets a range of cannabis products, including dried flower, pre-rolls, vapes, edibles and medical cannabis products, subject to applicable regulations in the markets it serves.

Tilray also operates beverage alcohol businesses, including craft beer, spirits and other alcoholic beverages. Its portfolio has included brands such as SweetWater Brewing Company, Montauk Brewing Company and Breckenridge Distillery.