Insider Buying: Tilray Brands (NASDAQ:TLRY) CFO Buys 10,000 Shares of Stock

Tilray Brands, Inc. (NASDAQ:TLRY) CFO Carl Merton bought 10,000 shares of Tilray Brands stock in a transaction dated Tuesday, August 4th. The shares were purchased 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. This represents a 7.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Tilray Brands Stock Up 0.5%

Tilray Brands stock traded up $0.03 during midday trading on Tuesday, hitting $4.67. 5,325,711 shares of the stock were exchanged, compared to its average volume of 4,332,216. 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 company has a 50 day moving average price of $4.66 and a two-hundred day moving average price of $6.20. The firm has a market cap of $543.71 million, a P/E ratio of -4.32 and a beta of 1.90. Tilray Brands, Inc. has a 1 year low of $3.67 and a 1 year high of $23.20.

Tilray Brands (NASDAQ:TLRY) last announced its 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). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The business had revenue of $281.71 million for the quarter, compared to analysts’ expectations of $246.30 million. On average, sell-side analysts predict that Tilray Brands, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. Hilton Head Capital Partners LLC acquired a new position in Tilray Brands in the fourth quarter worth $38,000. Cerity Partners LLC lifted its position in shares of Tilray Brands by 98.5% in the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after buying an additional 45,929 shares during the last quarter. Marex Group plc acquired a new position in shares of Tilray Brands in the 2nd quarter valued at about $40,000. Hilton Capital Management LLC acquired a new position in shares of Tilray Brands in the 2nd quarter valued at about $41,000. Finally, Essential Partners LLC boosted its holdings 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 valued at $57,000 after buying an additional 8,811 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TLRY. 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. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a report on Friday. Finally, Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tilray Brands currently has an average rating of “Moderate Buy” and an average target price of $11.00.

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.