Tilray Brands (NASDAQ:TLRY) Trading Up 2.3% – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY) shot up 2.3% during trading on Monday . The stock traded as high as $4.10 and last traded at $4.08. Approximately 3,601,380 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 4,213,675 shares. The stock had previously closed at $3.99.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a 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 report on Monday. 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 note on Tuesday, July 14th. Finally, ATB Cormark Capital Markets lowered their price target on Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.00.

Tilray Brands Stock Down 2.8%

The firm has a market cap of $559.78 million, a price-to-earnings ratio of -3.81 and a beta of 1.92. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $4.38 and a 200-day moving average price of $5.29.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS 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 business had revenue of $281.71 million during the quarter, compared to analyst estimates of $246.30 million. On average, equities analysts forecast that Tilray Brands, Inc. will post -0.47 EPS for the current year.

Insider Activity

In other Tilray Brands news, CFO Carl Merton purchased 10,000 shares of Tilray Brands 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 acquisition, the chief financial officer directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 15,000 shares of company stock valued at $69,225 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC purchased a new stake in shares of Tilray Brands in the fourth quarter valued at $38,000. Integrated Wealth Concepts LLC purchased a new stake in Tilray Brands during the 2nd quarter worth about $27,000. Essential Partners LLC raised its stake in Tilray Brands by 110,137.5% in the 1st 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 during the last quarter. Deutsche Bank AG acquired a new position in Tilray Brands in the 2nd quarter valued at about $44,000. Finally, Corient Private Wealth LP acquired a new position in Tilray Brands in the 2nd quarter valued at about $53,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray Brands

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.