Tilray Brands (NASDAQ:TLRY) Trading Up 2.9% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price shot up 2.9% on Friday . The company traded as high as $4.62 and last traded at $4.57. 3,372,967 shares traded hands during trading, a decline of 22% from the average daily volume of 4,331,799 shares. The stock had previously closed at $4.44.

Analysts Set New Price Targets

Several research analysts have commented on TLRY shares. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, 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 research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tilray Brands has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Tilray Brands Price Performance

The firm has a market capitalization of $532.63 million, a PE ratio of -4.23 and a beta of 1.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The business’s 50 day moving average is $4.60 and its two-hundred day moving average is $6.09.

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). The company 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%. As a group, research analysts anticipate that Tilray Brands, Inc. will post -0.4 EPS for the current year.

Insider Transactions at Tilray Brands

In related news, CFO Carl A. Merton bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the transaction, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. The trade was 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 acquired 15,000 shares of company stock valued at $69,225 in the last ninety days. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray Brands

Hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Millennium Management LLC lifted its position in Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after buying an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Tilray Brands in the third quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. purchased a new stake in Tilray Brands in the second quarter worth approximately $939,000. Finally, Swiss National Bank grew its position in Tilray Brands by 4.4% during the third quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock valued at $3,483,000 after acquiring an additional 84,900 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

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.