Tilray Brands (NASDAQ:TLRY) Shares Climb 1.8% – What’s Next?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) shot up 1.8% on Tuesday. The company traded as high as $2.80 and last traded at $2.77. 2,361,853 shares traded hands during trading, a decline of 44% from the average daily volume of 4,207,810 shares. The stock had previously closed at $2.72.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TLRY shares. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. ATB Cormark Capital Markets cut their price target on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a 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 on the stock in a research report on Tuesday, July 14th. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.90.

Tilray Brands Stock Performance

The firm has a market capitalization of $409.37 million, a P/E ratio of -1.98 and a beta of 1.91. The firm has a 50-day moving average price of $3.95 and a two-hundred day moving average price of $5.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.88 and a quick ratio of 1.11.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.16. The company had revenue of $257.15 million for the quarter, compared to the consensus estimate of $266.26 million. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. On average, analysts forecast that Tilray Brands, Inc. will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In other news, CFO Carl Merton purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the acquisition, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 15,000 shares of company stock worth $69,225 over the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Tilray Brands in the 2nd quarter worth $27,000. Deutsche Bank AG bought a new stake in shares of Tilray Brands in the second quarter valued at about $44,000. Corient Private Wealth LP purchased a new stake in shares of Tilray Brands in the 2nd quarter worth approximately $53,000. Essential Partners LLC boosted its stake in shares of Tilray Brands by 110,137.5% during 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 in the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of Tilray Brands during the second quarter valued at approximately $58,000. 9.35% of the stock is owned by institutional investors.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.