Tilray Brands (NASDAQ:TLRY) Stock Price Up 3% – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was up 3% during trading on Monday. The stock traded as high as $3.79 and last traded at $3.72. Approximately 4,305,504 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 4,214,247 shares. The stock had previously closed at $3.61.

Analysts Set New Price Targets

A number of brokerages have issued reports on TLRY. ATB Cormark Capital Markets decreased their price target on Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, September 21st. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. TD decreased their price target on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating on the stock in a report on Monday. Wall Street Zen cut shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, TD Cowen cut their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.38.

Tilray Brands Stock Performance

The stock’s 50-day moving average is $4.32 and its 200-day moving average is $5.07. 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 stock has a market cap of $514.84 million, a price-to-earnings ratio of -3.50 and a beta of 1.91.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share 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 for the quarter, compared to analyst estimates of $246.30 million. On average, analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current year.

Insider Activity at Tilray Brands

In other Tilray Brands news, CFO Carl Merton bought 10,000 shares of Tilray Brands 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 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 position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 15,000 shares of company stock valued at $69,225. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TLRY. Hilton Head Capital Partners LLC bought a new position in Tilray Brands in the 4th quarter worth about $38,000. Pictet Asset Management Holding SA raised its holdings in shares of Tilray Brands by 38.9% during the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after buying an additional 5,145 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Tilray Brands during the second quarter worth approximately $27,000. 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 worth $293,000 after buying an additional 7,226 shares during the period. Finally, Essential Partners LLC boosted its position 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 worth $57,000 after buying an additional 8,811 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company focused on cannabis, beverage alcohol, wellness and consumer products. The company develops, produces, distributes and markets a range of cannabis products, including dried flower, pre-rolls, vapes, edibles and medical cannabis products, subject to applicable regulations in the markets it serves.

Tilray also operates beverage alcohol businesses, including craft beer, spirits and other alcoholic beverages. Its portfolio has included brands such as SweetWater Brewing Company, Montauk Brewing Company and Breckenridge Distillery.