Brokerages Set Tilray Brands, Inc. (NASDAQ:TLRY) PT at $11.00

Tilray Brands, Inc. (NASDAQ:TLRY) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $11.00.

A number of brokerages recently issued reports on TLRY. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. TD Cowen dropped their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tilray Brands in a research report on Friday, August 7th. Finally, Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st.

Key Headlines Impacting Tilray Brands

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Cannabis-sector rotation lifted TLRY. Tilray shares benefited as investors rotated into cannabis stocks following reports that Curaleaf was considering a hostile bid for Aurora Cannabis. The potential transaction highlighted renewed strategic activity across the industry and helped improve sentiment toward other cannabis operators, including Tilray. Tilray Brands stock rises as Curaleaf plots hostile takeover for Aurora
• Positive Sentiment: Hi*Ball Energy expanded its UK marketing reach. Tilray’s zero-sugar sparkling energy brand became the Official Energy Drink Partner of Wolverhampton Wanderers for the upcoming English Football League Championship season. The partnership could increase brand visibility and distribution opportunities in the UK, although its near-term financial contribution is unclear. Hi*Ball Energy Powers into the English Football League with Wolverhampton Wanderers Partnership
• Positive Sentiment: New beverage launches are supporting the diversification narrative. Coverage has focused on Tilray’s beverage launch and its strategy of building consumer brands beyond cannabis, a theme that may attract investors seeking alternative growth avenues. Is Tilray Brands the Cannabis Name Buzzing After Its Beverage Launch?
• Neutral Sentiment: Breckenridge Distillery introduced Peach Whiskey. The Tilray subsidiary launched a flavored whiskey made with Colorado Palisade peaches. The product broadens the alcohol portfolio, but no sales or earnings impact was provided. Breckenridge Distillery Turns Colorado’s Famous Palisade Peaches into a Fresh Pour of Summer with New Peach Whiskey
• Negative Sentiment: Fundamental risks remain. Tilray’s latest reported quarter included a substantial EPS miss and continued net losses. The stock also remains below its 200-day moving average, indicating that recent positive headlines have not yet reversed the longer-term weakness.

Tilray Brands Trading Down 2.1%

Shares of TLRY opened at $4.68 on Friday. The stock has a market capitalization of $637.42 million, a P/E ratio of -4.33 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. The firm has a fifty day simple moving average of $4.54 and a two-hundred day simple moving average of $5.97. Tilray Brands has a twelve month low of $3.67 and a twelve month high of $23.20.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The firm had revenue of $281.71 million during the quarter, compared to the consensus estimate 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, research analysts anticipate that Tilray Brands will post -0.4 EPS for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired 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 directly owned 139,753 shares in the company, valued at approximately $645,658.86. The trade was a 7.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 15,000 shares of company stock valued at $69,225 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new position in shares of Tilray Brands during the 4th quarter worth approximately $38,000. Pictet Asset Management Holding SA lifted its stake in shares of Tilray Brands by 38.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after purchasing an additional 5,145 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Tilray Brands by 4.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after purchasing an additional 6,182 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its position in shares of Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after purchasing an additional 7,226 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Tilray Brands by 14.3% in the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after purchasing an additional 7,541 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.