ATB Cormark Capital Markets Cuts Tilray Brands (NASDAQ:TLRY) Price Target to $6.00

Tilray Brands (NASDAQ:TLRY) had its price target trimmed by ATB Cormark Capital Markets from $8.00 to $6.00 in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the stock.

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

Tilray Brands Stock Down 2.8%

Shares of NASDAQ TLRY opened at $4.11 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21. Tilray Brands has a 1 year low of $3.67 and a 1 year high of $23.20. The stock’s 50-day simple moving average is $4.38 and its 200-day simple moving average is $5.27. The firm has a market cap of $559.78 million, a price-to-earnings ratio of -3.81 and a beta of 1.92.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings results 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 analysts’ expectations of $246.30 million. As a group, equities analysts anticipate that Tilray Brands will post -0.42 earnings per share 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 dated Tuesday, August 4th. The stock was acquired at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the acquisition, the chief financial officer owned 139,753 shares of the company’s stock, valued at $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 15,000 shares of company stock valued at $69,225. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Several large investors have recently added to or reduced their stakes in TLRY. Integrated Wealth Concepts LLC bought a new stake in Tilray Brands during the second quarter valued at $27,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Tilray Brands during the fourth quarter worth $38,000. Deutsche Bank AG acquired a new stake in shares of Tilray Brands during the second quarter worth $44,000. Corient Private Wealth LP bought a new position in shares of Tilray Brands in the 2nd quarter worth about $53,000. Finally, Essential Partners LLC lifted its position in shares of Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after buying an additional 8,811 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.